II-VI (NASDAQ:IIVI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Other equities research analysts have also recently issued reports about the stock. Benchmark restated a “buy” rating and issued a $52.00 price target on shares of II-VI in a report on Tuesday, March 27th. B. Riley upgraded shares of II-VI from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.50 to $55.00 in a report on Tuesday, March 20th. Zacks Investment Research upgraded shares of II-VI from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, March 20th. Deutsche Bank started coverage on shares of II-VI in a report on Monday, March 19th. They issued a “buy” rating and a $56.00 price target for the company. Finally, DA Davidson started coverage on shares of II-VI in a report on Thursday, March 15th. They issued a “buy” rating and a $55.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. II-VI currently has a consensus rating of “Buy” and a consensus target price of $51.67.
Get II-VI alerts:NASDAQ:IIVI opened at $42.10 on Friday. The company has a quick ratio of 2.45, a current ratio of 3.68 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.37 and a beta of 0.14. II-VI has a 12 month low of $34.05 and a 12 month high of $53.08.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $294.70 million during the quarter, compared to analysts’ expectations of $277.74 million. II-VI had a net margin of 8.41% and a return on equity of 10.75%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. research analysts anticipate that II-VI will post 1.48 EPS for the current year.
In other II-VI news, VP David G. Wagner sold 6,579 shares of the firm’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $44.09, for a total value of $290,068.11. Following the transaction, the vice president now directly owns 53,248 shares of the company’s stock, valued at $2,347,704.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Stone Ridge Asset Management LLC bought a new position in shares of II-VI in the fourth quarter valued at $210,000. Suntrust Banks Inc. bought a new position in shares of II-VI in the fourth quarter valued at $212,000. Affinity Investment Advisors LLC lifted its stake in shares of II-VI by 23.4% in the first quarter. Affinity Investment Advisors LLC now owns 7,926 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 1,504 shares in the last quarter. Granite Springs Asset Management LLC bought a new position in shares of II-VI in the fourth quarter valued at $446,000. Finally, First Commonwealth Financial Corp PA bought a new position in shares of II-VI in the fourth quarter valued at $498,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
II-VI Company Profile
II-VI Incorporated provides engineered materials and optoelectronic components worldwide. The company is a vertically integrated manufacturing company that develops innovative products for various applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets.
No comments:
Post a Comment