IPG Photonics Corp. (IPGP) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “IPG PHOTONICS is the world leader in high-power fiber lasers and amplifiers. IPG pioneered the development and commercialization of optical fiber-based lasers for use in a wide range of applications such as materials processing, advanced applications, telecommunications and medical applications. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. “
A number of other research analysts have also recently commented on IPGP. Canaccord Genuity reaffirmed a buy rating and set a $100.00 price target on shares of IPG Photonics Corp. in a research report on Friday, July 29th. Needham & Company LLC reaffirmed a buy rating and set a $96.00 price target (down previously from $98.00) on shares of IPG Photonics Corp. in a research report on Monday, August 1st. Summit Redstone reaffirmed a buy rating on shares of IPG Photonics Corp. in a research report on Thursday, July 28th. Finally, Credit Agricole SA reaffirmed an outperform rating and set a $92.00 price target on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $94.83.
IPG Photonics Corp. (NASDAQ:IPGP) opened at 83.27 on Wednesday. The company has a market capitalization of $4.43 billion, a PE ratio of 18.59 and a beta of 2.28. The stock’s 50 day moving average is $84.45 and its 200 day moving average is $86.54. IPG Photonics Corp. has a 52 week low of $70.21 and a 52 week high of $102.90.
IPG Photonics Corp. (NASDAQ:IPGP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. IPG Photonics Corp. had a return on equity of 18.29% and a net margin of 25.87%. The firm had revenue of $252.80 million for the quarter, compared to analysts’ expectations of $243.79 million. During the same quarter in the prior year, the firm earned $1.15 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts predict that IPG Photonics Corp. will post $4.62 EPS for the current fiscal year.
In other news, Director Catherine P. Lego bought 3,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $83.12 per share, for a total transaction of $249,360.00. Following the purchase, the director now directly owns 3,012 shares in the company, valued at approximately $250,357.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in IPG Photonics Corp. by 1.7% in the first quarter. State Street Corp now owns 953,583 shares of the company’s stock worth $91,622,000 after buying an additional 15,696 shares during the last quarter. Handelsbanken Fonder AB boosted its position in IPG Photonics Corp. by 2.2% in the second quarter. Handelsbanken Fonder AB now owns 187,800 shares of the company’s stock worth $15,024,000 after buying an additional 4,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in IPG Photonics Corp. by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 65,234 shares of the company’s stock worth $6,268,000 after buying an additional 44,381 shares during the last quarter. BlackRock Group LTD boosted its position in IPG Photonics Corp. by 25.7% in the first quarter. BlackRock Group LTD now owns 22,653 shares of the company’s stock worth $2,176,000 after buying an additional 4,637 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in IPG Photonics Corp. by 2.5% in the second quarter. Fisher Asset Management LLC now owns 126,482 shares of the company’s stock worth $10,105,000 after buying an additional 3,063 shares during the last quarter. Institutional investors own 59.47% of the company’s stock.
About IPG Photonics Corp.
IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.
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