The stock of Coherent Corp. (NYSE:COHR) decreased by -$0.6 on Tuesday to finish at $47.01, down -1.26 percent. The last five days have seen an average of 3,258,000 shares of common stock traded. 18 times new highs were reached in the current year, with a gain of $11.91. The average number of shares traded over the last 20 days was 2,552,275, while the average volume over the last 50 days totaled 3,516,336.
COHR stock dropped -8.08% since last month. On 08/14/23, the company’s shares reached a one-month low of $44.11. The stock touched a high of $60.46 on 06/20/23, after rallying from a low of $26.29 in 52 weeks. The price of COHR stock has risen by 33.93% or $11.91 this year, reaching a new high 18 times. Still, the stock price is down -22.25% from the 52-week high.
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Insider Transactions
COHR stock investors should be aware that Coherent Corp. (COHR) stock had its last reported insider trading activity 12 days ago on Aug 04. On Aug 04, Chief Executive Officer MATTERA VINCENT D JR sold 5,000 shares at $50.00 each. This transaction resulted in the insider making $250,000. On Aug 01, BASHAW WALTER ROBERT II sold 2,500 shares at a price of US$46.99. After the transaction, the insider now owns 100,843 shares. President BASHAW WALTER ROBERT II had earlier sold 2,500 shares on Jul 03 for $50.31 a share. The transaction was completed for $125,775.
Valuation Metrics
Beta for the stock is 1.56. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.40, the price-to-book (PB) ratio of 1.36, and the price-to-cash flow ratio of 52.67.
Financial Health
For the three months ended March 30, Coherent Corp.’s quick ratio was 1.80, while its current ratio was 3.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.91, and the total debt to equity ratio is 0.92. As far as profitability goes, gross margin for the trailing twelve months is 33.10% percent. Coherent Corp.’s EBITDA margin for the year ended March 30 was 21.14%, whereas its operating margin stood at 3.80% for the same period. Based on annual data, it had gross profit of $1.27 billion and revenue of $3.32 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. COHR’s return on assets (ROA) during the last 12 months has been -1.30%. There was a 7.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -3.80%.
Earnings Surprise
According to Coherent Corp.’s quarterly financial report for the quarter that ended March 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.24 billion, while revenues rose by 69.0% to $1.37 billion. It was predicted that Coherent Corp.’s quarterly earnings would be $0.58, but it ended up being $0.82, beating the consensus by -29.30%. EBITDA was $233.74 million for the quarter. At the end of Coherent Corp.’s most recent quarter ended March 30, its liabilities totaled 8.88 billion, while its total debt was $4.61 billion. Equity owned by shareholders amounts to $139.38 million.
Technical Picture
Here’s a quick look at Coherent Corp.’s (COHR) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 46.99%, suggesting the stock is Neutral, with a 59.12% historical volatility rate.
The stochastic %K and %D were 32.30% and 27.55% respectively, while the average true range (ATR) was 2.43. Based on the 14-day stochastic reading of 38.67%, the RSI (14) reading is 48.58%. On the 9-day MACD Oscillator, the stock is at -1.34, and the 14-day reading is at -0.94.
Analyst Ratings
Coherent Corp. (NYSE: COHR) was downgraded by BofA Securities to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Coherent Corp. (COHR) an Overweight rating. COHR is a stock that is recommended for selling by 0 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 9 others recommend it as a buy.
What is COHR’s price target for the next 12 months?
The current consensus forecast for the stock is between $40.00 and $85.00, with a median target price of $52.50. In analyzing these forecasts, the average price target given by analysts for Coherent Corp. (COHR) is $52.31.
