Coherent saw an improvement in its IBD SmartSelect Composite Rating Friday, from 85 to 96.
The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength.
Coherent is now out of buy range after breaking out from an 80.80 entry in a cup with handle.
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The stock earns an 84 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 84% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company reported a 363% earnings-per-share gain for Q1. It has now posted accelerating EPS gains for four consecutive quarters. Top line growth rose 28%, up from 9% in the prior report. That marks four quarters of rising growth.
Coherent earns the No. 2 rank among its peers in the Electronics-Parts industry group. Amphenol Cl A is the No. 1-ranked stock within the group.
