Today, IPG Photonics Corp. (IPGP) Cut to Hold at The Zacks Investment Research

Today, IPG Photonics Corp. (IPGP) Cut to Hold at The Zacks Investment Research

Zacks Investment Research lowered shares of IPG Photonics Corp. (NASDAQ:IPGP) from a buy rating to a hold rating in a research report report published on Thursday.

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. “

Several other equities research analysts have also recently commented on the stock. reaffirmed an outperform rating and issued a $92.00 price objective on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. Summit Redstone reaffirmed a buy rating on shares of IPG Photonics Corp. in a research report on Thursday, July 28th. Canaccord Genuity set a $100.00 price target on shares of IPG Photonics Corp. and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Needham & Company LLC reissued a buy rating and set a $96.00 price target (down from $98.00) on shares of IPG Photonics Corp. in a research report on Monday, August 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $96.43.

Shares of IPG Photonics Corp. (NASDAQ:IPGP) opened at 97.27 on Thursday. The firm has a market capitalization of $5.17 billion, a P/E ratio of 21.24 and a beta of 2.07. IPG Photonics Corp. has a 52-week low of $73.55 and a 52-week high of $102.90. The company’s 50-day moving average price is $91.13 and its 200-day moving average price is $85.54.

IPG Photonics Corp. (NASDAQ:IPGP) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.23 by $0.06. The business had revenue of $266 million for the quarter, compared to analysts’ expectations of $255.27 million. IPG Photonics Corp. had a net margin of 25.83% and a return on equity of 17.73%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. On average, equities research analysts expect that IPG Photonics Corp. will post $4.71 EPS for the current fiscal year.

In other news, SVP Angelo P. Lopresti sold 5,589 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,015,035.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Angelo P. Lopresti sold 1,911 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $96.31, for a total transaction of $184,048.41. Following the completion of the sale, the senior vice president now directly owns 47,282 shares in the company, valued at $4,553,729.42. The disclosure for this sale can be found here. 34.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Shaker Investments LLC OH boosted its stake in shares of IPG Photonics Corp. by 39.8% in the second quarter. Shaker Investments LLC OH now owns 19,322 shares of the company’s stock worth $1,546,000 after buying an additional 5,500 shares during the last quarter. Capital Analysts LLC boosted its stake in shares of IPG Photonics Corp. by 22,231.7% in the second quarter. Capital Analysts LLC now owns 113,445 shares of the company’s stock worth $9,609,000 after buying an additional 112,937 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of IPG Photonics Corp. by 14.6% in the second quarter. Capstone Asset Management Co. now owns 4,630 shares of the company’s stock worth $370,000 after buying an additional 590 shares during the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of IPG Photonics Corp. during the second quarter worth about $10,822,000. Finally, Fisher Asset Management LLC boosted its stake in shares of 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. 60.03% of the stock is currently owned by institutional investors.

IPG Photonics Corp. Company Profile

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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