Shares of Coherent, Inc. (NASDAQ:COHR) have been given a consensus rating of "Hold" by the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $166.50.
A number of research analysts recently issued reports on the stock. Longbow Research upgraded shares of Coherent from a "neutral" rating to a "buy" rating and set a $165.00 target price on the stock in a research report on Monday, July 27th. Needham & Company LLC reiterated a "hold" rating on shares of Coherent in a research report on Wednesday, August 5th. BidaskClub downgraded shares of Coherent from a "sell" rating to a "strong sell" rating in a research report on Friday, August 21st. Vertical Group upgraded shares of Coherent from a "sell" rating to a "neutral" rating in a research report on Monday. Finally, Benchmark dropped their target price on shares of Coherent from $168.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th.
A number of hedge funds have recently made changes to their positions in COHR. Fifth Third Bancorp grew its position in Coherent by 16.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the scientific and technical instruments company's stock valued at $67,000 after acquiring an additional 87 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Coherent by 4.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,035 shares of the scientific and technical instruments company's stock worth $286,000 after purchasing an additional 90 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Coherent by 1.9% in the first quarter. Guggenheim Capital LLC now owns 7,542 shares of the scientific and technical instruments company's stock worth $803,000 after purchasing an additional 144 shares during the last quarter. US Bancorp DE grew its holdings in shares of Coherent by 2.2% in the first quarter. US Bancorp DE now owns 7,453 shares of the scientific and technical instruments company's stock worth $793,000 after purchasing an additional 162 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Coherent in the first quarter worth approximately $25,000. Institutional investors and hedge funds own 96.04% of the company's stock.
Shares of NASDAQ COHR traded down $0.11 during midday trading on Wednesday, reaching $110.38. The stock had a trading volume of 3,670 shares, compared to its average volume of 164,787. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -6.35, a price-to-earnings-growth ratio of 4.78 and a beta of 1.66. Coherent has a twelve month low of $78.21 and a twelve month high of $178.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.69 and a current ratio of 4.40. The company's 50 day moving average price is $120.27 and its 200 day moving average price is $125.02.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.21 by $0.31. The firm had revenue of $298.30 million for the quarter, compared to the consensus estimate of $287.43 million. Coherent had a negative net margin of 33.76% and a positive return on equity of 3.25%. The company's revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. Equities analysts forecast that Coherent will post 1.27 earnings per share for the current fiscal year.
Coherent Company Profile
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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5 Travel Company Stocks Likely to Suffer From the Coronavirus
How important is the global travel and tourism industry? It’s a sector that accounts for about 10% of the world’s adult workforce. That’s 350 million people. The industry also accounts for at least 4% of the global gross domestic product (GDP).
In short, it’s an industry that accounts for trillions of dollars for the economy. And it relies on the most visible workers like pilots and cruise ship captains to the kitchen and housecleaning staff and servers. The travel industry is in many ways a service industry. But when there’s nobody to service, these businesses take a tumble.
And tumble it has. The world is going through a period of enforced social distancing. Many countries are taking even more extreme measures to lock down parts, or all, of their countries in an effort to contain the spread of the coronavirus and to flatten the curve to prevent healthcare workers and hospitals from being overwhelmed.
But that means fewer people are flying. Planned vacations are being canceled. And all of this is bad news for a sector that relies on the mobility of global travelers.
To be fair, the best of these companies should recover just fine. However, some of these companies had fundamental concerns that will be magnified by the loss of revenue.
View the "5 Travel Company Stocks Likely to Suffer From the Coronavirus".