Insider Selling: Eugene Shcherbakov Sells 3,437 Shares of IPG Photonics Corp. Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) SVP Eugene Shcherbakov sold 3,437 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $64.26, for a total transaction of $220,861.62. Following the completion of the sale, the senior vice president now directly owns 11,910 shares in the company, valued at approximately $765,337. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Noble Financial upgraded shares of IPG Photonics Corp. 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.71.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 1.82% during mid-day trading on Wednesday, hitting $63.05. The stock had a trading volume of 382,050 shares. IPG Photonics Corp. has a 1-year low of $54.20 and a 1-year high of $70.11. The stock has a 50-day moving average of $58.04 and a 200-day moving average of $60.. The company has a market cap of $3.249 billion and a price-to-earnings ratio of 21.86.
IPG Photonics Corp. (NASDAQ:IPGP) last released its earnings data on Tuesday, July 30th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. On average, analysts predict that IPG Photonics Corp. will post $3.10 earnings per share 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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