II-VI (NASDAQ:IIVI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
IIVI has been the subject of a number of other reports. Northland Securities reissued a “hold” rating and set a $45.00 price objective on shares of II-VI in a research report on Friday, February 2nd. Craig Hallum cut their price objective on II-VI to $53.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Benchmark reissued a “buy” rating and set a $52.00 price objective (up from $44.00) on shares of II-VI in a research report on Wednesday, November 1st. Loop Capital started coverage on II-VI in a research report on Monday, January 29th. They set a “buy” rating and a $70.00 price objective for the company. Finally, B. Riley raised their price objective on II-VI from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. One equities 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.44.
Shares of II-VI (NASDAQ IIVI) opened at $38.10 on Friday. II-VI has a 52 week low of $27.25 and a 52 week high of $53.08. The stock has a market capitalization of $2,380.00 and a price-to-earnings ratio of 28.86. The company has a quick ratio of 2.71, a current ratio of 4.01 and a debt-to-equity ratio of 0.48.
In related news, Director Howard H. Xia sold 4,135 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David G. Wagner sold 6,577 shares of the firm’s stock in a transaction dated 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. Company insiders own 3.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in IIVI. Suntrust Banks Inc. purchased a new position in II-VI during the 4th quarter valued at about $212,000. US Bancorp DE boosted its holdings in II-VI by 43.3% during 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 acquiring an additional 1,477 shares during the period. Granite Point Capital Management L.P. purchased a new position in II-VI during the 4th quarter valued at about $282,000. Affinity Investment Advisors LLC purchased a new position in II-VI during the 4th quarter valued at about $302,000. Finally, Piedmont Investment Advisors LLC purchased a new position in II-VI during the 2nd quarter valued at about $407,000. Institutional investors own 80.21% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.com-unik.info/2018/02/10/ii-vi-iivi-downgraded-by-bidaskclub-to-sell.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.
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.