II-VI (IIVI) Downgraded by BidaskClub to “Sell”

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.

II-VI (NASDAQ:IIVI) last issued its earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $277.16 million. During the same period last year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. sell-side analysts anticipate that II-VI will post 1.55 earnings per share for the current fiscal year.

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.

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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)

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