In a report released yesterday, Brian Gesuale from Raymond James maintained a Hold rating on IPG Photonics (IPGP). The company’s shares closed last Tuesday at $189.49.
According to TipRanks.com, Gesuale is a 5-star analyst with an average return of 19.7% and a 73.7% success rate. Gesuale covers the Technology sector, focusing on stocks such as L3Harris Technologies, Caci International, and Roper Technologies.
Currently, the analyst consensus on IPG Photonics is a Moderate Buy with an average price target of $252.50, representing a 21.2% upside. In a report released yesterday, Canaccord Genuity also maintained a Hold rating on the stock with a $240.00 price target.
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Based on IPG Photonics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $337 million and net profit of $49.34 million. In comparison, last year the company earned revenue of $307 million and had a GAAP net loss of $4.45 million.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IPGP in relation to earlier this year.
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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals. The company was founded by Valentin P. Gapontsev and Igor Samartsev in 1990 and is headquartered in Oxford, MA.
