Coherent, Inc. (NASDAQ:COHR) has been given an average rating of “Buy” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $71.70.
Coherent (NASDAQ:COHR) traded down 3.81% during trading on Monday, hitting $62.63. The stock had a trading volume of 4,130 shares. The company has a 50-day moving average price of $65.90 and a 200-day moving average price of $60.45. The company has a market cap of $1.51 billion and a price-to-earnings ratio of 20.47. Coherent has a 52-week low of $52.15 and a 52-week high of $69.67.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.27. The business had revenue of $209.60 million for the quarter, compared to analyst estimates of $210.10 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Coherent will post $4.20 EPS for the current year.
In other Coherent news, VP Luis Spinelli sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $63.40, for a total transaction of $348,700.00. Following the completion of the transaction, the vice president now owns 11,895 shares in the company, valued at approximately $754,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in Coherent stock. Eagle Asset Management raised its position in Coherent, Inc. (NASDAQ:COHR) by 79.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,724,028 shares of the company’s stock after buying an additional 1,205,969 shares during the period. Eagle Asset Management owned approximately 10.92% of Coherent worth $149,004,000 at the end of the most recent quarter.
Several equities analysts have weighed in on COHR shares. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “sell” rating in a report on Tuesday, November 10th. B. Riley reiterated a “neutral” rating and issued a $63.50 target price on shares of Coherent in a report on Saturday, November 7th. Finally, TheStreet upgraded shares of Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, November 18th.
Coherent, Inc. is a supplier of photonics-based solutions for a range of commercial and scientific research applications. The Company designs, manufactures, services and markets lasers and related accessories to customers. The Company operates in two segments: Specialty Lasers and Systems (NASDAQ:COHR), and Commercial Lasers and Components (CLC). The SLS segment develops and manufactures configurable products serving the microelectronics, scientific research and government programs and original equipment manufacturer (OEM) components and instrumentation markets. The CLC segment’s primary markets include materials processing, OEM components and instrumentation, and microelectronics.