II-VI (NASDAQ:IIVI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Monday. The firm currently has a $13.80 price objective on the stock. Zacks‘s price target suggests a potential upside of 2.45% from the stock’s previous close.
In other II-VI news, Director Carl Johnson unloaded 5,000 shares of II-VI stock on the open market in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $14.41, for a total transaction of $72,050.00. Following the completion of the sale, the director now directly owns 398,533 shares in the company, valued at approximately $5,742,861. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
II-VI (NASDAQ:IIVI) traded down 0.52% on Monday, hitting $13.40. 287,430 shares of the company’s stock traded hands. II-VI has a 52-week low of $13.23 and a 52-week high of $20.80. The stock’s 50-day moving average is $14.5 and its 200-day moving average is $15.7. The company has a market cap of $830.0 million and a price-to-earnings ratio of 23.97.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.05. The company had revenue of $173.56 million for the quarter, compared to the consensus estimate of $167.10 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that II-VI will post $0.72 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on IIVI. Analysts at Needham & Company LLC cut their price target on shares of II-VI from $19.00 to $18.00 in a research note on Tuesday, March 18th. They now have a “buy” rating on the stock. Separately, analysts at B. Riley cut their price target on shares of II-VI from $18.00 to $15.75 in a research note on Tuesday, March 18th. They now have a “neutral” rating on the stock. Finally, analysts at DA Davidson cut their price target on shares of II-VI from $18.00 to $17.00 in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.14.
II-VI Incorporated (NASDAQ:IIVI) develops, refines, manufactures and markets high-technology materials and derivative precision components and products for precision use in industrial, military, telecommunications, photovoltaic, medical and aerospace applications.
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