Benchmark Raises Coherent (NASDAQ:COHR) Price Target to $175.00

Coherent (NASDAQ:COHR) had its target price hoisted by Benchmark from $165.00 to $175.00 in a research report released on Tuesday morning, The Fly reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms also recently issued reports on COHR. Zacks Investment Research downgraded shares of Coherent from a hold rating to a strong sell rating in a report on Monday, August 5th. ValuEngine upgraded Coherent from a buy rating to a strong-buy rating in a research note on Wednesday, September 4th. TheStreet cut Coherent from a b- rating to a c+ rating in a research note on Wednesday, August 14th. Finally, BidaskClub upgraded Coherent from a buy rating to a strong-buy rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Coherent currently has an average rating of Buy and a consensus target price of $150.00.

COHR opened at $155.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.97 and a quick ratio of 2.34. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 22.32 and a beta of 1.78. The firm’s fifty day moving average price is $146.57 and its two-hundred day moving average price is $138.63. Coherent has a 1 year low of $90.10 and a 1 year high of $189.39.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.28. The firm had revenue of $339.17 million for the quarter, compared to the consensus estimate of $348.61 million. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The business’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.51 EPS. As a group, equities analysts anticipate that Coherent will post 4.92 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Coherent during the 2nd quarter worth $28,000. Synovus Financial Corp raised its stake in shares of Coherent by 400.0% during the 1st quarter. Synovus Financial Corp now owns 320 shares of the scientific and technical instruments company’s stock worth $45,000 after purchasing an additional 256 shares during the period. Cerebellum GP LLC bought a new stake in shares of Coherent during the 2nd quarter worth $48,000. First Mercantile Trust Co. bought a new stake in shares of Coherent during the 1st quarter worth $64,000. Finally, Manchester Capital Management LLC bought a new stake in shares of Coherent during the 1st quarter worth $79,000.

Coherent Company Profile

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Analyst Recommendations for Coherent (NASDAQ:COHR)

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