II-VI (IIVI) Downgraded to “Sell” at BidaskClub
BidaskClub cut shares of II-VI (NASDAQ:IIVI) from a hold rating to a sell rating in a report released on Saturday morning.
Several other analysts have also recently commented on the stock. Northland Securities cut shares of II-VI from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Needham & Company LLC lifted their price objective on shares of II-VI from $50.00 to $56.00 and gave the company a buy rating in a research note on Monday, November 13th. lifted their price objective on shares of II-VI from $50.00 to $56.00 and gave the company a buy rating in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of II-VI from a buy rating to a hold rating in a research note on Tuesday, November 7th. Finally, Craig Hallum restated a buy rating and set a $58.00 price objective (up from $50.00) on shares of II-VI in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $52.44.
Shares of II-VI (NASDAQ:IIVI) opened at $37.15 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.71 and a current ratio of 4.01. II-VI has a 12 month low of $27.25 and a 12 month high of $53.08. The company has a market cap of $2,340.00 and a P/E ratio of 28.14.
In related news, VP David G. Wagner sold 6,577 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $47.63, for a total value of $313,262.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Howard H. Xia sold 4,135 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $51.58, for a total transaction of $213,283.30. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. acquired a new position in shares of II-VI in the 4th quarter valued at $212,000. US Bancorp DE lifted its stake in shares of II-VI by 43.3% in 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 purchasing an additional 1,477 shares during the period. Granite Point Capital Management L.P. acquired a new position in shares of II-VI in the 4th quarter valued at $282,000. Affinity Investment Advisors LLC acquired a new position in shares of II-VI in the 4th quarter valued at $302,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of II-VI in the 2nd quarter valued at $407,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://theolympiareport.com/2018/02/14/ii-vi-iivi-downgraded-to-sell-at-bidaskclub.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.