Canaccord Genuity Upgrades IPG Photonics Corporation to Buy with Price Target $96.00

Brokerage firm Canaccord Genuity Upgrades its rating on IPG Photonics Corporation(NASDAQ:IPGP). In a research note issued to the investors, the brokerage major Raises the price-target to $96.00 per share. The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Canaccord Genuity was issued on Jun 29, 2016.

In a different note, FBR Capital said it Initiates Coverage on IPG Photonics Corporation, according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm. On Apr 29, 2016, CLSA said it Downgrades its rating on IPG Photonics Corporation. In the research note, the firm Lowers the price-target to $98.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 28, 2016, Dougherty & Company said it Downgrades its rating on IPG Photonics Corporation. The shares have been rated ‘Neutral’ by the firm. Raymond James said it Initiates Coverage on IPG Photonics Corporation, according to a research note issued on Apr 15, 2016. The shares have been rated ‘Market Perform’ by the firm.

IPG Photonics Corporation (IPGP) shares turned negative on Fridays trading session with the shares closing down -0.06 points or -0.08% at a volume of 2,41,011. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $81.21. The peak price level was also seen at $81.21 while the days lowest was $79.5. Finally the shares closed at $79.94. The 52-week high of the shares is $102.9 while the 52-week low is $70.21. According to the latest information available, the market cap of the company is $4,243 M.

IPG Photonics Corporation(IPGP) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $207.25M. Analysts had an estimated revenue of $209.51M. Earnings per share were $0.92. Analysts had estimated an EPS of $0.98.

Several Insider Transactions has been reported to the SEC. On Jun 27, 2016, Gapontsev Trust I Valentin (10% owner) sold 500 shares at $85.06 per share price.Also, On Apr 27, 2016, Henry E Gauthier (director) sold 10,001 shares at $100.42 per share price.On Apr 25, 2016, Alexander Ovtchinnikov (SVP, Components) sold 3,584 shares at $99.12 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.

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