Wednesday, October 28, 2020

II-VI Incorporated [IIVI] Stock trading around $40.75 per share: What’s Next?

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II-VI Incorporated [NASDAQ: IIVI] stock went on an upward path that rose over 5.79% on Tuesday, amounting to a one-week price increase of more than 3.30%.

Over the last 12 months, IIVI stock rose by 10.21%. The one-year II-VI Incorporated stock forecast points to a potential upside of 26.31. The average equity rating for IIVI stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.19 billion, with 103.67 million shares outstanding and 100.04 million shares in the current float. Compared to the average trading volume of 2.21M shares, IIVI stock reached a trading volume of 2156589 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on II-VI Incorporated [IIVI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IIVI shares is $55.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IIVI stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for II-VI Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 18, 2020. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on September 08, 2020, representing the official price target for II-VI Incorporated stock. Previously, the target price had yet another drop from $60 to $57, while Needham kept a Buy rating on IIVI stock.

The Average True Range (ATR) for II-VI Incorporated is set at 2.16, with the Price to Sales ratio for IIVI stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 4.80. Price to Free Cash Flow for IIVI in the course of the last twelve months was 26.11 with Quick ratio for the last quarter at 1.70.

IIVI Stock Performance Analysis:

II-VI Incorporated [IIVI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.30. With this latest performance, IIVI shares dropped by -3.96% in over the last four-week period, additionally plugging by 48.45% over the last 6 months – not to mention a rise of 10.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IIVI stock in for the last two-week period is set at 50.32, with the RSI for the last a single of trading hit 54.72, and the three-weeks RSI is set at 46.71 for II-VI Incorporated [IIVI]. The present Moving Average for the last 50 days of trading for this stock 44.52, while it was recorded at 38.80 for the last single week of trading, and 38.21 for the last 200 days.

Insight into II-VI Incorporated Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and II-VI Incorporated [IIVI] shares currently have an operating margin of +3.52 and a Gross Margin at +34.43. II-VI Incorporated’s Net Margin is presently recorded at -2.82.

Return on Total Capital for IIVI is now 2.75, given the latest momentum, and Return on Invested Capital for the company is -2.24. Return on Equity for this stock declined to -4.18, with Return on Assets sitting at -1.86. When it comes to the capital structure of this company, II-VI Incorporated [IIVI] has a Total Debt to Total Equity ratio set at 115.47. Additionally, IIVI Total Debt to Total Capital is recorded at 53.59, with Total Debt to Total Assets ending up at 45.81. Long-Term Debt to Equity for the company is recorded at 110.83, with the Long-Term Debt to Total Capital now at 51.44.

Reflecting on the efficiency of the workforce at the company, II-VI Incorporated [IIVI] managed to generate an average of -$2,918 per employee. Receivables Turnover for the company is 5.49 with a Total Asset Turnover recorded at a value of 0.66.II-VI Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.70.

IIVI Stock EPS

With the latest financial reports released by the company, II-VI Incorporated posted 0.57/share EPS, while the average EPS was predicted by analysts to be reported at 0.6/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IIVI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for II-VI Incorporated go to 15.42%.

II-VI Incorporated [IIVI] Insider Position Details

There are presently around $3,654 million, or 86.60% of IIVI stock, in the hands of institutional investors. The top three institutional holders of IIVI stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 11,508,373, which is approximately 10.209% of the company’s market cap and around 1.30% of the total institutional ownership; FMR LLC, holding 11,121,503 shares of the stock with an approximate value of $453.2 million in IIVI stocks shares; and BLACKROCK INC., currently with $410.37 million in IIVI stock with ownership of nearly -3.023% of the company’s market capitalization.

Positions in II-VI Incorporated stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 176 institutional holders increased their position in II-VI Incorporated [NASDAQ:IIVI] by around 9,299,959 shares. Additionally, 160 investors decreased positions by around 12,370,415 shares, while 45 investors held positions by with 67,988,582 shares. The mentioned changes placed institutional holdings at 89,658,956 shares, according to the latest SEC report filing. IIVI stock had 105 new institutional investments in for a total of 4,749,792 shares, while 35 institutional investors sold positions of 609,099 shares during the same period.

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