BidaskClub Upgrades II-VI (NASDAQ:IIVI) to “Hold”

II-VI (NASDAQ:IIVI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday, March 16th.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded II-VI from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Northland Securities downgraded II-VI from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Loop Capital initiated coverage on II-VI in a research report on Monday, January 29th. They set a “buy” rating and a $70.00 price objective for the company. Craig Hallum dropped their target price on II-VI to $53.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Finally, Piper Jaffray assumed coverage on II-VI in a report on Tuesday, February 13th. They set an “overweight” rating and a $50.00 target price on the stock. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.50.

How to Become a New Pot Stock Millionaire

NASDAQ:IIVI traded down $1.30 during mid-day trading on Friday, hitting $40.80. The company had a trading volume of 542,493 shares, compared to its average volume of 1,088,370. II-VI has a 1 year low of $27.25 and a 1 year high of $53.08. The firm has a market capitalization of $2,549.47, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71.

II-VI (NASDAQ:IIVI) last announced its earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $281.50 million for the quarter, compared to analyst estimates of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. equities analysts anticipate that II-VI will post 1.55 EPS for the current year.

In related news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the company’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $47.34, for a total value of $378,720.00. Following the completion of the sale, the chief executive officer now directly owns 260,335 shares in the company, valued at $12,324,258.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Stone Ridge Asset Management LLC bought a new stake in II-VI during the fourth quarter valued at about $210,000. Suntrust Banks Inc. acquired a new position in shares of II-VI during the fourth quarter valued at about $212,000. US Bancorp DE raised its position in shares of II-VI by 43.3% during the fourth quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock valued at $229,000 after buying an additional 1,477 shares during the last quarter. Granite Point Capital Management L.P. acquired a new position in shares of II-VI during the fourth quarter valued at about $282,000. Finally, Affinity Investment Advisors LLC acquired a new position in shares of II-VI during the fourth quarter valued at about $302,000. Institutional investors own 89.12% of the company’s stock.

WARNING: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another site, it was illegally copied and reposted in violation of US & international copyright and trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/09/ii-vi-iivi-upgraded-by-bidaskclub-to-hold.html.

About II-VI

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