Barclays set a $325.00 price objective on Coherent (NASDAQ:COHR) in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the scientific and technical instruments company’s stock.

Several other brokerages also recently commented on COHR. Benchmark reiterated a buy rating and set a $290.00 target price on shares of Coherent in a report on Thursday, October 12th. Needham & Company LLC raised their target price on Coherent from $270.00 to $330.00 and gave the company a buy rating in a report on Wednesday, November 8th. Stifel Nicolaus raised their target price on Coherent from $290.00 to $330.00 and gave the company a buy rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded Coherent from a strong-buy rating to a hold rating in a report on Tuesday, January 9th. Finally, BidaskClub upgraded Coherent from a hold rating to a buy rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $312.22.

Coherent (NASDAQ COHR) opened at $209.61 on Thursday. The firm has a market capitalization of $5,200.00, a PE ratio of 23.71 and a beta of 0.65. Coherent has a 52 week low of $179.60 and a 52 week high of $329.00. The company has a quick ratio of 2.14, a current ratio of 3.18 and a debt-to-equity ratio of 0.42.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.02. The business had revenue of $477.60 million for the quarter, compared to analyst estimates of $474.21 million. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The company’s revenue was up 38.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.57 EPS. sell-side analysts anticipate that Coherent will post 15.56 earnings per share for the current fiscal year.

Coherent announced that its board has initiated a stock repurchase program on Wednesday, February 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other Coherent news, Director Jay T. Flatley sold 5,500 shares of Coherent stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $305.80, for a total transaction of $1,681,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Bret Dimarco sold 1,195 shares of Coherent stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $301.89, for a total value of $360,758.55. Following the sale, the vice president now owns 2,198 shares in the company, valued at $663,554.22. The disclosure for this sale can be found here. Insiders have sold a total of 9,069 shares of company stock worth $2,743,716 over the last 90 days. 1.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of COHR. Stifel Financial Corp increased its holdings in Coherent by 83.0% during the 2nd quarter. Stifel Financial Corp now owns 11,709 shares of the scientific and technical instruments company’s stock worth $2,627,000 after purchasing an additional 5,311 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in Coherent during the 2nd quarter worth approximately $271,000. Flinton Capital Management LLC increased its holdings in Coherent by 73.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after purchasing an additional 496 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Coherent during the 2nd quarter worth approximately $458,000. Finally, Caxton Associates LP purchased a new stake in Coherent during the 2nd quarter worth approximately $382,000. Institutional investors own 96.63% of the company’s stock.

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About Coherent

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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