II-VI Upgraded to Neutral by Zacks (IIVI)
II-VI (NASDAQ:IIVI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday, AmericanBankingNews.com reports. The firm currently has a $19.40 target price on the stock. Zacks‘ price objective points to a potential upside of 2.65% from the company’s current price.
A number of other analysts have also recently weighed in on IIVI. Analysts at Needham & Company reiterated a “buy” rating on shares of II-VI in a research note to investors on Friday, October 11th. They now have a $89.00 price target on the stock, up previously from $21.00. Separately, analysts at B. Riley raised their price target on shares of II-VI from $17.50 to $20.00 in a research note to investors on Tuesday, September 24th. They now have a “neutral” rating on the stock.
Shares of II-VI (NASDAQ:IIVI) traded down 0.11% on Thursday, hitting $18.90. The stock had a trading volume of 141,406 shares. II-VI has a one year low of $14.38 and a one year high of $20.80. The stock has a 50-day moving average of $19.20 and a 200-day moving average of $17.36. The company has a market cap of $1.179 billion and a P/E ratio of 23.65.
II-VI (NASDAQ:IIVI) last announced its earnings results on Thursday, August 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.02. The company had revenue of $155.00 million for the quarter, compared to the consensus estimate of $149.27 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts expect that II-VI will post $0.98 EPS for the current fiscal year.
II-VI Incorporated (NASDAQ:IIVI), develops, refines, manufactures and markets high-technology materials and derivative precision components and products for precision use in industrial, military, telecommunications, photovoltaic, medical and aerospace applications.
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