II-VI (NASDAQ:IIVI) Receives Outperform Rating from Cowen

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Cowen reaffirmed their outperform rating on shares of II-VI (NASDAQ:IIVI) in a report published on Tuesday morning, The Fly reports.

Other analysts also recently issued reports about the company. Benchmark restated a buy rating and issued a $48.00 target price on shares of II-VI in a research note on Tuesday. Raymond James downgraded II-VI from an outperform rating to a market perform rating in a research note on Friday, January 10th. They noted that the move was a valuation call. Deutsche Bank reduced their target price on II-VI from $48.00 to $40.00 and set a buy rating for the company in a research note on Wednesday, November 13th. BTIG Research raised their target price on II-VI from $31.00 to $36.00 and gave the company a buy rating in a research note on Thursday, January 16th. Finally, Northland Securities restated a hold rating and issued a $30.00 target price on shares of II-VI in a research note on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. II-VI has an average rating of Buy and a consensus target price of $41.00.

Shares of II-VI stock opened at $37.25 on Tuesday. The company has a current ratio of 2.78, a quick ratio of 1.85 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average price of $35.80 and a two-hundred day moving average price of $34.85. II-VI has a 1-year low of $26.93 and a 1-year high of $43.49.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Monday, February 10th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. II-VI had a negative return on equity of 4.44% and a negative net margin of 4.18%. The firm had revenue of $666.30 million during the quarter, compared to the consensus estimate of $610.30 million. During the same period last year, the business posted $0.71 EPS. The business’s revenue was up 94.3% compared to the same quarter last year. On average, sell-side analysts forecast that II-VI will post -2.12 earnings per share for the current year.

In related news, CEO Vincent D. Mattera, Jr. sold 29,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $33.65, for a total value of $975,850.00. Following the transaction, the chief executive officer now owns 455,651 shares of the company’s stock, valued at approximately $15,332,656.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Howard H. Xia sold 9,300 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $38.00, for a total transaction of $353,400.00. Following the completion of the transaction, the director now directly owns 38,064 shares in the company, valued at approximately $1,446,432. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,800 shares of company stock worth $1,346,750. 4.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new position in II-VI in the 4th quarter valued at about $29,000. GQ Asset Management LLC bought a new position in II-VI in the 3rd quarter valued at about $33,000. Versant Capital Management Inc lifted its position in II-VI by 122.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,230 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 676 shares in the last quarter. Emerald Advisers LLC bought a new position in II-VI in the 4th quarter valued at about $47,000. Finally, Tobias Financial Advisors Inc. bought a new position in shares of II-VI during the 4th quarter worth approximately $80,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

About II-VI

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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Analyst Recommendations for II-VI (NASDAQ:IIVI)

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