Insider Selling: William Hurley Sells 10,000 Shares of IPG Photonics Corp. Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) Director William Hurley unloaded 10,000 shares of IPG Photonics Corp. stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.87, for a total value of $608,700.00. Following the completion of the transaction, the director now directly owns 9,767 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at Noble Financial upgraded shares of IPG Photonics Corp. (NASDAQ:IPGP) from a “hold” rating to a “buy” rating in a research note to investors on Thursday, September 5th. They now have a $66.00 price target on the stock, down previously from $72.00.
Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. IPG Photonics Corp. has an average rating of “Buy” and a consensus price target of $67.71.
Shares of IPG Photonics Corp. (NASDAQ:IPGP) traded down 2.44% on Monday, hitting $59.56. The stock had a trading volume of 354,286 shares. IPG Photonics Corp. has a 1-year low of $51.34 and a 1-year high of $70.11. The stock has a 50-day moving average of $58.0 and a 200-day moving average of $60.38. The company has a market cap of $3.070 billion and a price-to-earnings ratio of 20.78.
IPG Photonics Corp. (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $168.20 million for the quarter, compared to the consensus estimate of $161.12 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Analysts expect that IPG Photonics Corp. will post $3.10 EPS for the current fiscal year.
IPG Photonics Corporation (NASDAQ:IPGP) is the developer and manufacturer of a range of fiber lasers, fiber amplifiers and diode lasers that are used in numerous applications in diverse end markets.
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