Positive Media Coverage Somewhat Unlikely to Affect II-VI (IIVI) Stock Price
News articles about II-VI (NASDAQ:IIVI) have been trending positive on Wednesday, Accern Sentiment reports. Accern rates the sentiment of media coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. II-VI earned a media sentiment score of 0.31 on Accern’s scale. Accern also assigned press coverage about the scientific and technical instruments company an impact score of 47.0404394005703 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have effected Accern Sentiment’s rankings:
- II-VI (IIVI) Upgraded at BidaskClub (americanbankingnews.com)
- Trend Analysis Report: Alkermes plc, (NASDAQ: ALKS), II-VI Incorporated, (NASDAQ: IIVI), Westlake Chemical … – Stocks In The News (press release) (tradingnewsnow.com)
- Kohl’s Corporation (KSS) Stocks Try To Grab Potentials – II-VI Incorporated (IIVI) – Investing News Update (investingbizz.com)
- Analyst’s Predictions on: Fifth Third Bancorp, (NASDAQ: FITB), II-VI Incorporated, (NASDAQ: IIVI), Asanko Gold Inc … – Stocks In The News (press release) (tradingnewsnow.com)
- Zacks: Analysts Anticipate II-VI Incorporated (IIVI) Will Announce Quarterly Sales of $276.99 Million (americanbankingnews.com)
Shares of II-VI (IIVI) traded down $1.50 on Wednesday, hitting $44.75. The stock had a trading volume of 2,439,198 shares, compared to its average volume of 698,241. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.89. The firm has a market cap of $2,884.64, a P/E ratio of 27.86 and a beta of 0.03. II-VI has a 12 month low of $27.25 and a 12 month high of $52.55.
II-VI (NASDAQ:IIVI) last issued its earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The firm had revenue of $261.50 million during the quarter, compared to analyst estimates of $255.20 million. II-VI had a net margin of 9.89% and a return on equity of 12.25%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. equities research analysts predict that II-VI will post 1.55 earnings per share for the current fiscal year.
A number of brokerages have weighed in on IIVI. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley increased their price target on II-VI from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded II-VI from a “sell” rating to a “buy” rating and set a $47.00 price target for the company in a report on Friday, November 3rd. Needham & Company LLC increased their price target on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Craig Hallum reiterated a “buy” rating and set a $58.00 price target (up from $50.00) on shares of II-VI in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $50.64.
In other news, CFO Mary Jane Raymond sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the chief financial officer now directly owns 53,415 shares in the company, valued at approximately $2,403,675. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Francis J. Kramer sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $42.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,712 shares of company stock valued at $2,749,046. 3.80% of the stock is currently owned by company insiders.
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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.
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