IPG Photonics Corporation (IPGP) was Reiterated by The Benchmark Company to “Buy” while Lowering the Price Target of the company shares to $ 93 from a previous price target of $98 . The Benchmark Company advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on IPG Photonics Corporation. IPG Photonics Corporation was Downgraded by Credit Agricole to ” Outperform” on Apr 29, 2016. IPG Photonics Corporation was Initiated by Raymond James to “Mkt Perform” on Apr 15, 2016.
On the company’s financial health, IPG Photonics Corporation reported $0.92 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $207.20 million for the quarter, compared to analysts expectations of $209.50 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
IPG Photonics Corporation opened for trading at $100.28 and hit $102.9 on the upside on Wednesday, eventually ending the session at $102.69, with a gain of 1.65% or 1.67 points. The heightened volatility saw the trading volume jump to 6,63,197 shares. Company has a market cap of $5,431 M.
In a different news, on Apr 27, 2016, Henry E Gauthier (director) sold 10,001 shares at $100.42 per share price. According to the SEC, on Apr 25, 2016, Alexander Ovtchinnikov (SVP, Components) sold 3,584 shares at $99.12 per share price. On Apr 5, 2016, Angelo P Lopresti (SVP, Secretary & Gen Counsel) sold 4,000 shares at $95.54 per share price, according to the Form-4 filing with the securities and exchange commission.
IPG Photonics Corporation is a developer and manufacturer of a range of fiber lasers fiber amplifiers and diode lasers that are used for various applications primarily in materials processing. The Company offers a line of lasers and amplifiers which are used in materials processing advanced communications and medical applications. The Company sells its products globally to original equipment manufacturers (OEMs) system integrators and end users and markets its products internationally through direct sales force. It designs and manufactures packaged diodes direct diode lasers laser systems communications systems and materials processing laser systems that utilize its optical fiber-based products as well as other laser sources. It also manufactures complementary products used with its lasers including optical delivery cables fiber couplers beam switches optical processing heads and chillers.