II-VI (IIVI) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of II-VI (NASDAQ:IIVI) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other equities analysts also recently issued reports on IIVI. Benchmark reissued a buy rating and set a $52.00 price target on shares of II-VI in a report on Tuesday, March 27th. BidaskClub raised shares of II-VI from a hold rating to a buy rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of II-VI from a buy rating to a hold rating in a report on Tuesday, March 27th. B. Riley raised shares of II-VI from a neutral rating to a buy rating and boosted their price target for the company from $40.50 to $55.00 in a report on Tuesday, March 20th. Finally, Deutsche Bank started coverage on shares of II-VI in a report on Monday, March 19th. They issued a buy rating and a $56.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $53.50.

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Shares of IIVI opened at $40.80 on Tuesday. II-VI has a 1 year low of $27.25 and a 1 year high of $53.08. The firm has a market cap of $2,593.19, a PE ratio of 27.57, a PEG ratio of 1.58 and a beta of 0.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71.

II-VI (NASDAQ:IIVI) last announced its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $281.50 million during the quarter, compared to the consensus estimate of $277.16 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. analysts anticipate that II-VI will post 1.55 earnings per share for the current year.

In related news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the company’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Stone Ridge Asset Management LLC acquired a new stake in II-VI in the fourth quarter worth about $210,000. Suntrust Banks Inc. acquired a new stake in II-VI in the fourth quarter worth about $212,000. US Bancorp DE lifted its holdings in II-VI by 43.3% in the fourth quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock worth $229,000 after purchasing an additional 1,477 shares during the period. Granite Point Capital Management L.P. bought a new stake in II-VI in the fourth quarter worth about $282,000. Finally, Affinity Investment Advisors LLC bought a new stake in II-VI in the fourth quarter worth about $302,000. 89.12% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

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