IPG Photonics Corp. (IPGP) Rating Increased to Buy at Zacks Investment Research
IPG Photonics Corp. (NASDAQ:IPGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $106.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 10.32% from the stock’s current price.
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 analysts have also commented on the company. Credit Agricole SA reaffirmed an “outperform” rating and issued a $92.00 price target on shares of IPG Photonics Corp. in a research note on Tuesday, September 13th. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 price objective on shares of IPG Photonics Corp. in a report on Friday, July 22nd. Summit Redstone reiterated a “buy” rating on shares of IPG Photonics Corp. in a report on Thursday, July 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $96.00 price objective (down previously from $98.00) on shares of IPG Photonics Corp. in a report on Monday, August 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $96.43.
IPG Photonics Corp. (NASDAQ:IPGP) opened at 96.08 on Wednesday. The company has a 50 day moving average of $88.56 and a 200-day moving average of $85.00. IPG Photonics Corp. has a one year low of $73.55 and a one year high of $102.90. The stock has a market capitalization of $5.10 billion, a P/E ratio of 20.98 and a beta of 2.07.
IPG Photonics Corp. (NASDAQ:IPGP) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.06. IPG Photonics Corp. had a return on equity of 17.73% and a net margin of 25.83%. The company earned $266 million during the quarter, compared to analyst estimates of $255.27 million. During the same quarter last year, the firm posted $1.18 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Equities research analysts predict that IPG Photonics Corp. will post $4.71 earnings per share for the current fiscal year.
In related news, SVP Angelo P. Lopresti sold 1,911 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $96.31, for a total transaction of $184,048.41. Following the sale, the senior vice president now directly owns 47,282 shares of the company’s stock, valued at $4,553,729.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Angelo P. Lopresti sold 5,589 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $96.30, for a total value of $538,220.70. Following the sale, the senior vice president now directly owns 41,693 shares in the company, valued at $4,015,035.90. The disclosure for this sale can be found here. Insiders own 34.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its stake in IPG Photonics Corp. by 2.2% in the second quarter. Handelsbanken Fonder AB now owns 187,800 shares of the company’s stock valued at $15,024,000 after buying an additional 4,000 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in IPG Photonics Corp. by 5.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 153,993 shares of the company’s stock valued at $12,319,000 after buying an additional 7,805 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 valued at $6,268,000 after buying an additional 44,381 shares during the period. Princeton Capital Management Inc. boosted its stake in IPG Photonics Corp. by 37.6% in the second quarter. Princeton Capital Management Inc. now owns 17,625 shares of the company’s stock valued at $1,410,000 after buying an additional 4,817 shares during the period. Finally, Fisher Asset Management LLC boosted its stake 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 valued at $10,105,000 after buying an additional 3,063 shares during the period. 59.41% of the stock is currently owned by institutional investors.
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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