Coherent Corp [COHR] Stock trading around $60.47 per share: What’s Next?

Coherent Corp [NYSE: COHR] gained 5.26% or 3.02 points to close at $60.47 with a heavy trading volume of 3732085 shares. The company report on February 20, 2024 at 8:15 AM that Dr. Vincent D. Mattera, Jr., to Retire as CEO of Coherent.

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The daily chart for COHR points out that the company has recorded 65.63% gains over the past six months.

If we look at the average trading volume of 2.17M shares, COHR reached to a volume of 3732085 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Coherent Corp [COHR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COHR shares is $65.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COHR stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Coherent Corp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $39 to $45. The new note on the price target was released on December 13, 2023, representing the official price target for Coherent Corp stock. Previously, the target price had yet another raise from $31 to $37, while B. Riley Securities kept a Buy rating on COHR stock.

The Average True Range (ATR) for Coherent Corp is set at 2.74, with the Price to Sales ratio for COHR stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 6.81. Price to Free Cash Flow for COHR in the course of the last twelve months was 35.85 with Quick ratio for the last quarter at 1.79.

Trading performance analysis for COHR stock

Coherent Corp [COHR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.48. With this latest performance, COHR shares gained by 26.85% in over the last four-week period, additionally plugging by 65.63% over the last 6 months – not to mention a rise of 42.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COHR stock in for the last two-week period is set at 66.40, with the RSI for the last a single of trading hit 64.19, and the three-weeks RSI is set at 67.22 for Coherent Corp [COHR]. The present Moving Average for the last 50 days of trading for this stock 48.43, while it was recorded at 58.99 for the last single week of trading, and 40.77 for the last 200 days.

Coherent Corp [COHR]: A deeper dive into fundamental analysis

Coherent Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.79 and a Current Ratio set at 2.88.

Coherent Corp [COHR]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Coherent Corp posted 0.58/share EPS, while the average EPS was predicted by analysts to be reported at 0.82/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -29.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COHR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Coherent Corp go to 11.30%.

An analysis of Institutional ownership at Coherent Corp [COHR]

The top three institutional holders of COHR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COHR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COHR stock with ownership which is approximately 5.8325%.