II-VI (NASDAQ:IIVI) had its price target upped by Piper Jaffray Companies to $57.00 in a research note released on Tuesday, August 7th, The Fly reports. The brokerage currently has an overweight rating on the scientific and technical instruments company’s stock. Piper Jaffray Companies also issued estimates for II-VI’s Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.40 EPS, Q1 2020 earnings at $0.64 EPS, Q2 2020 earnings at $0.71 EPS, Q3 2020 earnings at $0.77 EPS, Q4 2020 earnings at $0.84 EPS, FY2020 earnings at $2.97 EPS, FY2021 earnings at $3.45 EPS, FY2022 earnings at $4.00 EPS and FY2023 earnings at $4.50 EPS.
A number of other research firms have also recently commented on IIVI. BidaskClub upgraded shares of II-VI from a sell rating to a hold rating in a report on Friday, June 8th. B. Riley dropped their target price on shares of II-VI from $55.00 to $54.00 and set a buy rating on the stock in a report on Wednesday, May 2nd. Cowen began coverage on shares of II-VI in a report on Monday, July 23rd. They issued an outperform rating and a $57.00 target price on the stock. Morgan Stanley cut shares of II-VI from an overweight rating to an equal weight rating and set a $46.00 target price on the stock. in a report on Monday, July 2nd. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of II-VI from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. II-VI presently has a consensus rating of Buy and an average price target of $53.69.
Shares of NASDAQ IIVI traded down $0.70 on Tuesday, reaching $49.75. 626,100 shares of the company’s stock traded hands, compared to its average volume of 737,296. II-VI has a 12 month low of $34.55 and a 12 month high of $53.08. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 1.61 and a beta of 0.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.17 and a current ratio of 3.22.
In other II-VI news, CEO Vincent D. Mattera, Jr. sold 9,450 shares of II-VI stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $39.79, for a total value of $376,015.50. Following the completion of the transaction, the chief executive officer now directly owns 250,310 shares of the company’s stock, valued at approximately $9,959,834.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis J. Kramer sold 910 shares of II-VI stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $50.00, for a total transaction of $45,500.00. Following the transaction, the director now directly owns 225,790 shares of the company’s stock, valued at $11,289,500. The disclosure for this sale can be found here. Insiders sold a total of 58,965 shares of company stock valued at $2,605,240 over the last three months. Corporate insiders own 3.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in IIVI. Tower Research Capital LLC TRC purchased a new stake in II-VI in the 2nd quarter valued at about $128,000. Janus Henderson Group PLC bought a new position in shares of II-VI during the 2nd quarter worth approximately $244,000. Gagnon Securities LLC bought a new position in shares of II-VI during the 2nd quarter worth approximately $254,000. Affinity Investment Advisors LLC raised its stake in shares of II-VI by 23.4% during the 1st quarter. Affinity Investment Advisors LLC now owns 7,926 shares of the scientific and technical instruments company’s stock worth $324,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its stake in shares of II-VI by 60.6% during the 2nd quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock worth $365,000 after acquiring an additional 3,166 shares in the last quarter. 94.52% of the stock is owned by institutional investors.
II-VI Company Profile
II-VI Incorporated provides engineered materials and optoelectronic components worldwide. The company is a vertically integrated manufacturing company that develops innovative products for various applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets.
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