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Strength Seen in IPG (IPGP): Can Its 13.5% Jump Turn into More Strength?
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IPG Photonics (IPGP - Free Report) shares rallied 13.5% in the last trading session to close at $132.83. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.3% gain over the past four weeks.
IPG Photonics is expected to benefit from strong demand for lasers in electric vehicle applications. Strong performance in cleaning, and solar cell manufacturing are also driving top-line growth.
This high-powered laser maker is expected to post quarterly earnings of $1.23 per share in its upcoming report, which represents a year-over-year change of -10.9%. Revenues are expected to be $345.24 million, down 8.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For IPG, the consensus EPS estimate for the quarter has been revised 2.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IPGP going forward to see if this recent jump can turn into more strength down the road.
IPG is part of the Zacks Lasers Systems and Components industry. Cutera (CUTR - Free Report) , another stock in the same industry, closed the last trading session 6.6% lower at $15.68. CUTR has returned 5.5% in the past month.
Cutera's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.55. Compared to the company's year-ago EPS, this represents a change of -129.2%. Cutera currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in IPG (IPGP): Can Its 13.5% Jump Turn into More Strength?
IPG Photonics (IPGP - Free Report) shares rallied 13.5% in the last trading session to close at $132.83. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.3% gain over the past four weeks.
IPG Photonics is expected to benefit from strong demand for lasers in electric vehicle applications. Strong performance in cleaning, and solar cell manufacturing are also driving top-line growth.
This high-powered laser maker is expected to post quarterly earnings of $1.23 per share in its upcoming report, which represents a year-over-year change of -10.9%. Revenues are expected to be $345.24 million, down 8.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For IPG, the consensus EPS estimate for the quarter has been revised 2.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IPGP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
IPG is part of the Zacks Lasers Systems and Components industry. Cutera (CUTR - Free Report) , another stock in the same industry, closed the last trading session 6.6% lower at $15.68. CUTR has returned 5.5% in the past month.
Cutera's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.55. Compared to the company's year-ago EPS, this represents a change of -129.2%. Cutera currently boasts a Zacks Rank of #4 (Sell).