II-VI Incorporated (NASDAQ:IIVI) has a beta value of 1.27 and has seen 1,283,680 shares traded in the last trading session. The company, currently valued at $4.09 Billion, closed the last trade at $39.45 per share which meant it gained $1.19 on the day or 3.11% during that session. The IIVI stock price is -34.27% off its 52-week high price of $52.97 and 51.84% above the 52-week low of $19. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.89 Million shares traded. The 3-month trading volume is 2.17 Million shares.
The consensus among analysts is that II-VI Incorporated (IIVI) is an Overweight stock at the moment, with a recommendation rating of 2.2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 5 out of 17 have rated it as a Hold, with 12 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.55.
II-VI Incorporated (NASDAQ:IIVI) trade information
Sporting 3.11% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Sep 15 when the IIVI stock price touched $39.56- or saw a rise of 0.28%. Year-to-date, II-VI Incorporated shares have moved 17.17%, while the 5-day performance has seen it change 5.09%. Over the past 30 days, the shares of II-VI Incorporated (NASDAQ:IIVI) have changed -15.29%. Short interest in the company has seen 14.93 Million shares shorted with days to cover at 6.88.
Wall Street analysts have a consensus price target for the stock at $55.41, which means that the shares’ value could jump 40.46% from current levels. The projected low price target is $43 while the price target rests at a high of $67. In that case, then, we find that the current price level is +69.84% off the targeted high while a plunge would see the stock lose 9% from current levels.
II-VI Incorporated (IIVI) estimates and forecasts
Figures show that II-VI Incorporated shares have underperformed across the wider relevant industry. The company’s shares have gained +46.33% over the past 6 months, with this year growth rate of -11.93%, compared to -10.8% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -3.5% and 77.8% for the next quarter. Revenue growth from the last financial year stood is estimated to be +26.3%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -22.4% over the past 5 years. Earnings growth for 2020 is a modest -148.4% while over the next 5 years, the company’s earnings are expected to increase by 15.42%.
II-VI Incorporated (NASDAQ:IIVI)’s Major holders
Insiders own 4.47% of the company shares, while shares held by institutions stand at 92.13% with a share float percentage of 96.44%. Investors are also buoyed by the number of investors in a company, with II-VI Incorporated having a total of 366 institutions that hold shares in the company. The top two institutional holders are Wellington Management Company, LLP with over 11.51 Million shares worth more than $543.43 Million. As of June 29, 2020, Wellington Management Company, LLP held 11.1% of shares outstanding.
The other major institutional holder is FMR, LLC, with the holding of over 11.12 Million shares as of June 29, 2020. The firm’s total holdings are worth over $525.16 Million and represent 10.73% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Hartford Mid Cap Fund and Fidelity Blue Chip Growth Fund. As of April 29, 2020, the former fund manager holds about 6.3% shares in the company for having 6526688 shares of worth $224.65 Million while later fund manager owns 2.85 Million shares of worth $134.47 Million as of June 29, 2020, which makes it owner of about 2.75% of company’s outstanding stock.