II-VI (IIVI) Receives New Coverage from Analysts at Piper Jaffray Companies

Equities researchers at Piper Jaffray Companies initiated coverage on shares of II-VI (NASDAQ:IIVI) in a research note issued on Tuesday. The firm set an “overweight” rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued reports about the company. BidaskClub upgraded II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC upped their target price on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, November 13th. Zacks Investment Research cut II-VI from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. ValuEngine cut II-VI from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Northland Securities cut II-VI from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $52.44.

Shares of II-VI (IIVI) traded down $0.60 during mid-day trading on Tuesday, reaching $37.50. The company had a trading volume of 1,024,600 shares, compared to its average volume of 966,099. II-VI has a 1-year low of $27.25 and a 1-year high of $53.08. The company has a market capitalization of $2,340.00 and a PE ratio of 28.41. 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The business had revenue of $281.50 million for the quarter, compared to analysts’ expectations of $277.16 million. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue was up 21.4% on a year-over-year basis. sell-side analysts predict that II-VI will post 1.55 earnings per share for the current year.

In other news, Director Howard H. Xia sold 4,135 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total transaction of $213,283.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David G. Wagner sold 6,577 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $47.63, for a total value of $313,262.51. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Suntrust Banks Inc. acquired a new position in shares of II-VI during the fourth quarter worth approximately $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 worth $229,000 after purchasing an additional 1,477 shares during the period. Granite Point Capital Management L.P. acquired a new position in shares of II-VI during the fourth quarter worth approximately $282,000. Affinity Investment Advisors LLC acquired a new position in shares of II-VI during the fourth quarter worth approximately $302,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of II-VI during the second quarter worth approximately $407,000. 81.26% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: “II-VI (IIVI) Receives New Coverage from Analysts at Piper Jaffray Companies” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2018/02/13/ii-vi-iivi-receives-new-coverage-from-analysts-at-piper-jaffray-companies.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.

Latest News

Leave a Reply