ValuEngine Downgrades IPG Photonics (IPGP) to Hold
IPG Photonics (NASDAQ:IPGP) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Other equities research analysts have also issued reports about the company. DA Davidson upped their price target on IPG Photonics to $235.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $240.00 price target for the company in a research report on Friday, October 27th. Needham & Company LLC upped their price target on IPG Photonics from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and issued a $170.00 price target (up from $165.00) on shares of IPG Photonics in a research report on Friday, September 1st. Finally, Benchmark restated a “buy” rating and issued a $230.00 price target on shares of IPG Photonics in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $180.33.
IPG Photonics (NASDAQ IPGP) traded down $4.85 during trading hours on Friday, reaching $224.13. The company’s stock had a trading volume of 668,489 shares, compared to its average volume of 608,475. IPG Photonics has a 52 week low of $93.38 and a 52 week high of $248.23. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. The stock has a market cap of $12,016.96, a price-to-earnings ratio of 33.01, a P/E/G ratio of 1.63 and a beta of 1.70.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.32. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The company had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. During the same period in the previous year, the business earned $1.29 EPS. IPG Photonics’s quarterly revenue was up 47.6% on a year-over-year basis. analysts anticipate that IPG Photonics will post 7.01 earnings per share for the current year.
In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the transaction, the senior vice president now directly owns 16,957 shares in the company, valued at $3,370,882.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 33.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its position in IPG Photonics by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,015 shares of the semiconductor company’s stock worth $437,000 after acquiring an additional 33 shares during the period. Advisory Services Network LLC lifted its stake in IPG Photonics by 5.2% during the second quarter. Advisory Services Network LLC now owns 1,813 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 90 shares in the last quarter. Utah Retirement Systems lifted its stake in IPG Photonics by 1.6% during the second quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock worth $949,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in IPG Photonics by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 111 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in IPG Photonics by 2.2% during the second quarter. Stifel Financial Corp now owns 5,268 shares of the semiconductor company’s stock worth $764,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 59.99% of the company’s stock.
WARNING: “ValuEngine Downgrades IPG Photonics (IPGP) to Hold” was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/valuengine-downgrades-ipg-photonics-ipgp-to-hold/1741764.html.
About IPG Photonics
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
Receive News & Ratings for IPG Photonics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.