These Analysts Boost Their Forecasts On IPG Photonics Following Upbeat Q4 Results

IPG Photonics Corporation (NASDAQ:IPGP) on Thursday reported fourth-quarter results that exceeded Wall Street expectations.

The company posted adjusted earnings of 46 cents per share, topping analysts’ consensus estimate of 20 cents. Net sales rose 17% year over year to $274.47 million, surpassing expectations of $249.45 million, supported by gains in materials processing, medical, and advanced applications.

For the first quarter, IPG expects adjusted EPS of 10–40 cents versus a 20-cent estimate, revenue of $235 million–$265 million versus $243.422 million expected, adjusted EBITDA of $25 million–$40 million, and adjusted gross margin of 37%–39%.

“We delivered fourth quarter results above our expectations with another quarter of double-digit year-over-year revenue growth,” said Dr. Mark Gitin, Chief Executive Officer of IPG Photonics. “Our performance was driven by the team’s execution on our key strategic initiatives, growth in additive and battery manufacturing, and continued stabilization in industrial demand. We have strengthened our organization, improved operational discipline, and continued to invest in innovation and new product roadmaps to ensure that IPG is well positioned for long-term, sustainable and profitable growth.”

IPG Photonics shares gained 2.3% to trade at $153.73 on Friday.

These analysts made changes to their price targets on IPG Photonics following earnings announcement.

• Raymond James analyst Brian Gesuale downgraded IPG Photonics from Strong Buy to Outperform and raised the price target from $97 to $180.
• Stifel analyst Ruben Roy maintained the stock with a Buy and raised the price target from $92 to $165.

Considering buying IPGP stock? Here’s what analysts think:

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