II-VI, Inc. (IIVI) Receives Average Rating of “Buy” from Analysts

II-VI, Inc. (NASDAQ:IIVI) has received a consensus recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.25.

A number of brokerages recently weighed in on IIVI. Needham & Company LLC boosted their price objective on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. boosted their price objective on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered II-VI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Craig Hallum restated a “buy” rating and set a $58.00 price objective (up previously from $50.00) on shares of II-VI in a research report on Wednesday, November 1st.

II-VI (NASDAQ:IIVI) opened at $46.95 on Tuesday. II-VI has a 52 week low of $27.25 and a 52 week high of $52.55. The company has a quick ratio of 2.63, a current ratio of 3.89 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2,928.30, a price-to-earnings ratio of 30.49 and a beta of 0.03.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The business had revenue of $261.50 million during the quarter, compared to the consensus estimate of $255.20 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. sell-side analysts expect that II-VI will post 1.55 earnings per share for the current year.

In other II-VI news, VP David G. Wagner sold 6,577 shares of II-VI stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $47.63, for a total transaction of $313,262.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mary Jane Raymond sold 1,000 shares of II-VI stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the chief financial officer now directly owns 53,415 shares in the company, valued at $2,403,675. The disclosure for this sale can be found here. Insiders have sold a total of 36,712 shares of company stock worth $1,699,046 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in IIVI. Assetmark Inc. lifted its holdings in II-VI by 157.5% during the 3rd quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock worth $5,663,000 after buying an additional 84,176 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in II-VI by 83.0% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock worth $5,657,000 after buying an additional 62,335 shares during the period. EAM Investors LLC acquired a new position in II-VI during the 3rd quarter worth about $2,252,000. Argent Capital Management LLC acquired a new position in II-VI during the 2nd quarter worth about $1,610,000. Finally, Piedmont Investment Advisors LLC acquired a new position in II-VI during the 2nd quarter worth about $407,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “II-VI, Inc. (IIVI) Receives Average Rating of “Buy” from Analysts” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/01/02/ii-vi-inc-iivi-receives-average-rating-of-buy-from-analysts.html.

II-VI Company Profile

II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

Receive News & Ratings for II-VI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply