B. Riley upgraded shares of II-VI (NASDAQ:IIVI) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, March 20th, MarketBeat.com reports. The brokerage currently has $55.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $40.50. B. Riley also issued estimates for II-VI’s Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.26 EPS, Q1 2020 earnings at $0.71 EPS, Q2 2020 earnings at $0.83 EPS and FY2020 earnings at $3.14 EPS.
A number of other analysts have also weighed in on IIVI. ValuEngine lowered shares of II-VI from a buy rating to a hold rating in a research report on Friday, December 1st. BidaskClub downgraded shares of II-VI from a buy rating to a hold rating in a research note on Saturday, December 2nd. Northland Securities downgraded shares of II-VI from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Loop Capital initiated coverage on shares of II-VI in a research note on Monday, January 29th. They issued a buy rating and a $70.00 target price on the stock. Finally, Craig Hallum dropped their price objective on shares of II-VI to $53.00 and set a buy rating on the stock in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $53.50.
II-VI stock traded down $0.05 during mid-day trading on Tuesday, hitting $43.70. The stock had a trading volume of 429,457 shares, compared to its average volume of 870,352. The company has a market capitalization of $2,733.79, a P/E ratio of 29.53, a P/E/G ratio of 1.66 and a beta of 0.10. II-VI has a one year low of $27.25 and a one year high of $53.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.71 and a current ratio of 4.01.
II-VI (NASDAQ:IIVI) last announced its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. II-VI had a net margin of 8.08% and a return on equity of 11.10%. The business had revenue of $281.50 million for the quarter, compared to analysts’ expectations of $277.16 million. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. analysts forecast that II-VI will post 1.55 EPS for the current year.
In other II-VI news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the firm’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $47.34, for a total value of $378,720.00. Following the completion of the transaction, the chief executive officer now owns 260,335 shares of the company’s stock, valued at $12,324,258.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.80% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Stone Ridge Asset Management LLC purchased a new position in shares of II-VI during the fourth quarter worth $210,000. Suntrust Banks Inc. acquired a new stake in II-VI during the fourth quarter valued at $212,000. US Bancorp DE grew its position in 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 valued at $229,000 after buying an additional 1,477 shares during the period. Granite Point Capital Management L.P. acquired a new stake in II-VI during the fourth quarter valued at $282,000. Finally, Affinity Investment Advisors LLC acquired a new stake in II-VI during the fourth quarter valued at $302,000. 89.12% of the stock is owned by hedge funds and other institutional investors.
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.
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.