IPG Photonics Corporation (IPGP) is Upgraded by Canaccord Genuity to Buy, Raises Price Target to $ 90

IPG Photonics Corporation (IPGP) was Upgraded by Canaccord Genuity to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 90 from a previous price target of $85 . Earlier the firm had a rating of “Hold ” on the company shares. Canaccord Genuity advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on IPG Photonics Corporation. FBR Capital Initiated IPG Photonics Corporation on May 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $92.IPG Photonics Corporation was Downgraded by Credit Agricole to ” Outperform” on Apr 29, 2016. Shares were Reiterated by The Benchmark Company on Apr 28, 2016 to “Buy” and Lowered the Price Target to $ 93 from a previous price target of $98 .

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 closed down -3.58 points or -4.47% at $76.5 with 4,14,665 shares getting traded on Monday. Post opening the session at $78.71, the shares hit an intraday low of $76.22 and an intraday high of $79.36 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

IPG Photonics Corporation

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