Coherent (NASDAQ:COHR) Given a $325.00 Price Target at Barclays

Coherent (NASDAQ:COHR) has been given a $325.00 price objective by analysts at Barclays in a note issued to investors on Thursday, February 8th, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the scientific and technical instruments company’s stock. Barclays’ price objective suggests a potential upside of 51.88% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Benchmark reaffirmed a “buy” rating and set a $290.00 price target on shares of Coherent in a research report on Thursday, October 12th. BidaskClub downgraded Coherent from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Needham & Company LLC upped their target price on Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus upped their target price on Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $312.22.

Shares of Coherent (NASDAQ COHR) traded up $7.81 during mid-day trading on Thursday, hitting $213.99. The stock had a trading volume of 605,700 shares, compared to its average volume of 679,962. The firm has a market capitalization of $5,380.00, a P/E ratio of 30.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18. Coherent has a 1-year low of $179.60 and a 1-year high of $329.00.

Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02. The business had revenue of $477.60 million for the quarter, compared to the consensus estimate of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. sell-side analysts forecast that Coherent will post 14.62 earnings per share for the current year.

Coherent declared that its board has initiated a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other Coherent news, EVP Paul F. Sechrist sold 1,002 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $288.88, for a total value of $289,457.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul F. Sechrist sold 1,372 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $300.00, for a total transaction of $411,600.00. Following the completion of the sale, the executive vice president now directly owns 2,497 shares in the company, valued at $749,100. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,874 shares of company stock worth $807,193. 1.40% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of COHR. Stifel Financial Corp boosted its holdings in Coherent by 83.0% in the second quarter. Stifel Financial Corp now owns 11,709 shares of the scientific and technical instruments company’s stock valued at $2,627,000 after purchasing an additional 5,311 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in Coherent in the second quarter valued at $271,000. Flinton Capital Management LLC boosted its holdings in Coherent by 73.8% in the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $263,000 after purchasing an additional 496 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Coherent in the second quarter valued at $458,000. Finally, Caxton Associates LP purchased a new stake in Coherent in the second quarter valued at $382,000. 95.70% of the stock is currently owned by institutional investors.

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Coherent Company Profile

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

Analyst Recommendations for Coherent (NASDAQ:COHR)

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