Coherent (NASDAQ:COHR) Lifted to “Neutral” at Vertical Group
Vertical Group upgraded shares of Coherent (NASDAQ:COHR) from a sell rating to a neutral rating in a report released on Monday morning, The Fly reports.
Several other equities research analysts have also recently weighed in on COHR. BidaskClub cut Coherent from a sell rating to a strong sell rating in a research report on Friday, August 21st. Benchmark decreased their price target on Coherent from $168.00 to $160.00 and set a buy rating on the stock in a research report on Wednesday, August 5th. Susquehanna Bancshares reiterated a buy rating and set a $170.00 price target on shares of Coherent in a research report on Friday, May 29th. Zacks Investment Research cut Coherent from a hold rating to a strong sell rating in a research report on Monday, August 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of Coherent in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $166.50.
NASDAQ COHR opened at $108.27 on Monday. The company has a market cap of $2.63 billion, a PE ratio of -6.19, a price-to-earnings-growth ratio of 4.78 and a beta of 1.66. Coherent has a 52 week low of $78.21 and a 52 week high of $178.08. The company has a quick ratio of 2.69, a current ratio of 4.40 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $119.67 and its two-hundred day simple moving average is $124.94.
Several large investors have recently modified their holdings of COHR. Northwestern Mutual Wealth Management Co. bought a new stake in Coherent in the 1st quarter worth about $25,000. Twin Tree Management LP boosted its position in Coherent by 767.4% in the second quarter. Twin Tree Management LP now owns 373 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 330 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new position in Coherent in the first quarter worth about $41,000. Captrust Financial Advisors purchased a new position in Coherent in the second quarter worth about $53,000. Finally, Tower Research Capital LLC TRC purchased a new position in Coherent in the first quarter worth about $59,000. Hedge funds and other institutional investors own 96.04% of the company’s stock.
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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