II-VI (IIVI) Downgraded by BidaskClub

II-VI (NASDAQ:IIVI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other research analysts also recently issued reports about the company. Craig Hallum reduced their price objective on II-VI to $53.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Loop Capital started coverage on II-VI in a research note on Monday, January 29th. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research raised II-VI from a “sell” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Friday, November 3rd. Benchmark reissued a “buy” rating and issued a $52.00 price objective (up from $44.00) on shares of II-VI in a research note on Wednesday, November 1st. Finally, increased their price objective on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.44.

II-VI (NASDAQ:IIVI) traded down $0.05 during midday trading on Friday, reaching $38.10. The company had a trading volume of 1,231,281 shares, compared to its average volume of 1,055,913. II-VI has a 1 year low of $27.25 and a 1 year high of $53.08. The company has a current ratio of 4.01, a quick ratio of 2.71 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2,383.86 and a P/E ratio of 28.86.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data 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 firm had revenue of $281.50 million during the quarter, compared to the consensus estimate of $277.16 million. During the same period in the prior year, the company earned $0.49 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. research analysts predict that II-VI will post 1.55 EPS for the current fiscal year.

In other II-VI news, Director Howard H. Xia sold 4,135 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total value of $213,283.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David G. Wagner sold 6,577 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were 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 owned by corporate insiders.

Large investors have recently modified their holdings of the business. Suntrust Banks Inc. purchased a new stake in II-VI in the 4th quarter valued at $212,000. US Bancorp DE grew its holdings in II-VI by 43.3% in the 4th 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 in the last quarter. Granite Point Capital Management L.P. purchased a new stake in II-VI in the 4th quarter valued at $282,000. Affinity Investment Advisors LLC purchased a new stake in II-VI in the 4th quarter valued at $302,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of II-VI during the 2nd quarter worth $407,000. Institutional investors own 80.21% of the company’s stock.

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About II-VI

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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