Trade Report: The Zacks Investment Research lowers the Stock rating of IPG Photonics Corp. (IPGP)

The Zacks Investment Research lowers the Stock rating of IPG Photonics Corp. (IPGP)

IPG Photonics Corp. (NASDAQ:IPGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

A number of other brokerages have also weighed in on IPGP. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target on shares of IPG Photonics Corp. in a report on Friday, July 29th. Needham & Company LLC reiterated a “buy” rating and issued a $96.00 price target (down previously from $98.00) on shares of IPG Photonics Corp. in a report on Monday, August 1st. Summit Redstone reiterated a “buy” rating on shares of IPG Photonics Corp. in a report on Thursday, July 28th. Finally, reiterated an “outperform” rating and issued a $92.00 price target on shares of IPG Photonics Corp. in a report on Tuesday, September 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. IPG Photonics Corp. has an average rating of “Buy” and an average price target of $96.43.

IPG Photonics Corp. (NASDAQ:IPGP) opened at 97.42 on Thursday. The firm has a market cap of $5.17 billion, a P/E ratio of 21.27 and a beta of 2.07. The company’s 50 day moving average is $90.78 and its 200-day moving average is $85.43. IPG Photonics Corp. has a 52 week low of $73.55 and a 52 week high of $102.90.

IPG Photonics Corp. (NASDAQ:IPGP) last announced its earnings results on Thursday, October 27th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.06. IPG Photonics Corp. had a net margin of 25.83% and a return on equity of 17.73%. The firm had revenue of $266 million for the quarter, compared to analyst estimates of $255.27 million. During the same quarter last year, the business earned $1.18 earnings per share. IPG Photonics Corp.’s revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that IPG Photonics Corp. will post $4.71 earnings per share for the current year.

In related news, SVP Angelo P. Lopresti sold 5,589 shares of IPG Photonics Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $96.30, for a total transaction of $538,220.70. Following the sale, the senior vice president now owns 41,693 shares of the company’s stock, valued at approximately $4,015,035.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Angelo P. Lopresti sold 1,911 shares of IPG Photonics Corp. 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 in the company, valued at approximately $4,553,729.42. The disclosure for this sale can be found here. 34.20% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in IPG Photonics Corp. by 5.0% in the first quarter. Geode Capital Management LLC now owns 237,334 shares of the company’s stock valued at $22,803,000 after buying an additional 11,364 shares during the period. Envestnet Asset Management Inc. increased its stake in IPG Photonics Corp. by 41.0% in the first quarter. Envestnet Asset Management Inc. now owns 12,858 shares of the company’s stock valued at $1,235,000 after buying an additional 3,738 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in IPG Photonics Corp. by 3.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 34,600 shares of the company’s stock valued at $3,324,000 after buying an additional 998 shares during the period. Arizona State Retirement System increased its stake in IPG Photonics Corp. by 6.4% in the first quarter. Arizona State Retirement System now owns 19,988 shares of the company’s stock valued at $1,920,000 after buying an additional 1,200 shares during the period. Finally, Royal Bank of Canada increased its stake in IPG Photonics Corp. by 13.3% in the first quarter. Royal Bank of Canada now owns 132,397 shares of the company’s stock valued at $12,721,000 after buying an additional 15,507 shares during the period. 58.91% of the stock is currently owned by hedge funds and other 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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