IPG Photonics Corp. (IPGP) Receives Average Rating of “Hold” from Analysts
Shares of IPG Photonics Corp. (NASDAQ:IPGP) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $94.60.
IPGP has been the subject of several research analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $90.00 price objective on shares of IPG Photonics Corp. in a research note on Friday, July 22nd. Summit Redstone reissued a “buy” rating on shares of IPG Photonics Corp. in a research note on Thursday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $96.00 price objective (down from $98.00) on shares of IPG Photonics Corp. in a research note on Monday, August 1st. Zacks Investment Research raised IPG Photonics Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Credit Agricole SA reissued an “outperform” rating and issued a $92.00 price objective on shares of IPG Photonics Corp. in a research note on Tuesday, September 13th.
In other news, Director Catherine P. Lego purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $83.12 per share, with a total value of $249,360.00. Following the purchase, the director now directly owns 3,012 shares of the company’s stock, valued at $250,357.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 34.20% of the company’s stock.
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Large investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new position in shares of IPG Photonics Corp. during the second quarter worth $103,000. LS Investment Advisors LLC increased its position in shares of IPG Photonics Corp. by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $177,000 after buying an additional 919 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of IPG Photonics Corp. by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,407 shares of the company’s stock worth $193,000 after buying an additional 57 shares during the last quarter. Jane Street Group LLC bought a new position in shares of IPG Photonics Corp. during the second quarter worth $201,000. Finally, Stonebridge Capital Management Inc. bought a new position in shares of IPG Photonics Corp. during the third quarter worth $218,000. 59.45% of the stock is owned by institutional investors.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 0.16% during trading on Tuesday, reaching $82.68. The company’s stock had a trading volume of 102,415 shares. IPG Photonics Corp. has a 52-week low of $70.21 and a 52-week high of $102.90. The stock’s 50-day moving average is $83.60 and its 200 day moving average is $85.56. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 18.46 and a beta of 2.18.
IPG Photonics Corp. (NASDAQ:IPGP) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business earned $252.80 million during the quarter, compared to analyst estimates of $243.79 million. During the same quarter last year, the company posted $1.15 EPS. IPG Photonics Corp.’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that IPG Photonics Corp. will post $4.62 EPS for the current fiscal year.
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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