Coherent (COHR) PT Lowered to $310.00 at Stifel Nicolaus

Coherent (NASDAQ:COHR) had its target price decreased by analysts at Stifel Nicolaus from $330.00 to $310.00 in a report issued on Thursday, February 8th, Marketbeat reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 44.87% from the company’s current price.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Benchmark reiterated a “buy” rating and issued a $290.00 price target on shares of Coherent in a research report on Thursday, October 12th. Barclays set a $332.00 price target on shares of Coherent and gave the company a “buy” rating in a research report on Wednesday, January 10th. Needham & Company LLC boosted their price objective on shares of Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, BidaskClub cut shares of Coherent from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Coherent has a consensus rating of “Buy” and an average price target of $312.22.

Shares of Coherent (NASDAQ:COHR) traded up $7.81 during trading hours on Thursday, hitting $213.99. 605,700 shares of the stock traded hands, compared to its average volume of 668,518. The stock has a market cap of $5,380.00, a P/E ratio of 30.21 and a beta of 0.65. The company has a quick ratio of 2.08, a current ratio of 3.18 and a debt-to-equity ratio of 0.42. Coherent has a twelve month low of $179.60 and a twelve month high of $329.00.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. During the same quarter in the previous year, the firm earned $2.57 EPS. The company’s revenue was up 38.0% compared to the same quarter last year. equities research analysts expect that Coherent will post 14.62 EPS for the current fiscal year.

Coherent declared that its Board of Directors 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In other news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul F. Sechrist sold 1,002 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $288.88, for a total transaction of $289,457.76. The disclosure for this sale can be found here. Insiders sold a total of 2,874 shares of company stock worth $807,193 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of Coherent by 26.3% in the 4th quarter. Macquarie Group Ltd. now owns 13,504 shares of the scientific and technical instruments company’s stock worth $3,811,000 after buying an additional 2,809 shares in the last quarter. LPL Financial LLC boosted its position in shares of Coherent by 22.1% in the 4th quarter. LPL Financial LLC now owns 4,798 shares of the scientific and technical instruments company’s stock worth $1,354,000 after buying an additional 869 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Coherent by 49.8% in the 4th quarter. Flinton Capital Management LLC now owns 14,048 shares of the scientific and technical instruments company’s stock worth $3,965,000 after buying an additional 4,672 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Coherent by 49.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 19,316 shares of the scientific and technical instruments company’s stock worth $5,451,000 after buying an additional 6,424 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Coherent by 18.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,531 shares of the scientific and technical instruments company’s stock worth $997,000 after buying an additional 551 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Coherent (COHR) PT Lowered to $310.00 at Stifel Nicolaus” was first reported by Week Herald and is owned by of Week Herald. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://weekherald.com/2018/02/15/stifel-nicolaus-cuts-coherent-cohr-price-target-to-310-00.html.

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)

Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply