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.
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.
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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.
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