II-VI (IIVI) Stock Rating Upgraded by BidaskClub

II-VI (NASDAQ:IIVI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other brokerages have also recently weighed in on IIVI. upped their target price on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Needham & Company LLC upped their target price on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 13th. ValuEngine lowered II-VI from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Craig Hallum reissued a “buy” rating and issued a $58.00 price target (up from $50.00) on shares of II-VI in a research report on Wednesday, November 1st. Finally, Benchmark reissued a “buy” rating and issued a $52.00 price target (up from $44.00) on shares of II-VI in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $50.64.

II-VI (NASDAQ:IIVI) traded down $1.50 on Tuesday, reaching $44.75. The company had a trading volume of 2,439,100 shares, compared to its average volume of 698,241. II-VI has a one year low of $27.25 and a one year high of $52.55. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2,884.64, a PE ratio of 27.86 and a beta of 0.03.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $255.20 million. During the same quarter in the previous year, the firm earned $0.35 EPS. II-VI’s revenue was up 18.1% compared to the same quarter last year. sell-side analysts anticipate that II-VI will post 1.55 EPS for the current fiscal year.

In related news, VP David G. Wagner sold 6,577 shares of the company’s 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 document filed with the SEC, which can be accessed through this link. Also, Director Francis J. Kramer sold 25,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $42.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,712 shares of company stock valued at $2,749,046. Corporate insiders own 3.80% of the company’s stock.

A number of large investors have recently made changes to their positions in IIVI. Argent Capital Management LLC increased its holdings in shares of II-VI by 23.0% in the third quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after purchasing an additional 10,785 shares during the period. Assetmark Inc. increased its holdings in shares of II-VI by 157.5% in the third quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock valued at $5,663,000 after purchasing an additional 84,176 shares during the period. EAM Investors LLC acquired a new position in shares of II-VI in the third quarter valued at about $2,252,000. Rhumbline Advisers increased its holdings in shares of II-VI by 2.2% in the third quarter. Rhumbline Advisers now owns 134,008 shares of the scientific and technical instruments company’s stock valued at $5,514,000 after purchasing an additional 2,855 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of II-VI by 83.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock valued at $5,657,000 after purchasing an additional 62,335 shares during the period. 80.54% of the stock is currently owned by institutional investors.

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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)

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