Northcoast Research Believes Ipg Photonics Corp (NASDAQ: IPGP) Won’t Stop Here

By Austin Angelo

In a report released yesterday, Tom Hayes from Northcoast Research reiterated a Buy rating on Ipg Photonics Corp (NASDAQ: IPGP), with a price target of $290. The company’s shares closed yesterday at $251.95, close to its 52-week high of $264.11.

According to TipRanks.com, Hayes is a 4-star analyst with an average return of 25.6% and a 89.3% success rate. Hayes covers the Consumer Goods sector, focusing on stocks such as Stanley Black & Decker Inc, Briggs & Stratton Corp, and Cognex Corp.

Currently, the analyst consensus on Ipg Photonics Corp is Moderate Buy and the average price target is $285, representing a 13.1% upside.

In a report issued on January 23, Needham also reiterated a Buy rating on the stock with a $280 price target.

Based on Ipg Photonics Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $393 million and quarterly net profit of $116 million. In comparison, last year the company earned revenue of $280 million and had a net profit of $75.13 million.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock.

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IPG Photonics Corp. engages in the design, development, production, and distribution of fiber lasers, fiber amplifiers and diode lasers that are used for diverse applications, primarily in materials processing, advanced technologies, telecommunications and medical applications. Its products include lasers systems, beam delivery, medical, telecom equipment, 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.