3D Systems Corporation (DDD) Rating Lowered to Strong Sell at Zacks Investment Research
3D Systems Corporation (NYSE:DDD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “In keeping with its volatile earnings history, 3D Systems’ second-quarter 2017 adjusted earnings missed the estimates by a whopping 216.7%, as modest top-line growth was more than offset by a rise in operating expenses. Adverse macroeconomic factors, such as slowdown, currency fluctuations and commodity prices hurt the company’s performance. Consequently, its shares have underperformed the industry’s average return over the past six months. Escalating IT and go-to-market expenses remain headwinds, going forward. Moreover, 3D System operates in a highly dynamic and competitive market which adds to its risks. Nevertheless, its diverse technology portfolio enables it to offset weaknesses associated with a single product line. Going forward, strong demand for production printers, materials and software, as well as healthcare solutions will likely act as major catalysts for growth.”
A number of other research firms have also weighed in on DDD. Canaccord Genuity restated a “hold” rating and set a $15.00 target price on shares of 3D Systems Corporation in a research note on Friday, May 26th. Piper Jaffray Companies upped their target price on shares of 3D Systems Corporation from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 24th. FBR & Co restated a “hold” rating and set a $18.00 target price on shares of 3D Systems Corporation in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $18.00 target price (up from $15.00) on shares of 3D Systems Corporation in a research note on Monday, June 26th. Finally, BidaskClub lowered shares of 3D Systems Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.41.
3D Systems Corporation (DDD) traded down 0.2832% during mid-day trading on Tuesday, hitting $12.9233. 1,703,876 shares of the stock were exchanged. The company has a 50 day moving average of $19.05 and a 200 day moving average of $17.54. The firm’s market cap is $1.36 billion. 3D Systems Corporation has a 12-month low of $12.34 and a 12-month high of $23.70.
3D Systems Corporation (NYSE:DDD) last released its earnings results on Wednesday, August 2nd. The 3D printing company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.04. 3D Systems Corporation had a positive return on equity of 1.69% and a negative net margin of 5.39%. The firm had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $163.01 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that 3D Systems Corporation will post $0.45 earnings per share for the current fiscal year.
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In other news, EVP Andrew Martin Johnson sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $21.19, for a total value of $211,900.00. Following the completion of the sale, the executive vice president now directly owns 241,666 shares of the company’s stock, valued at $5,120,902.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Walter Loewenbaum II sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $22.29, for a total value of $557,250.00. Following the completion of the sale, the director now directly owns 1,007,106 shares of the company’s stock, valued at $22,448,392.74. The disclosure for this sale can be found here. Insiders sold 102,500 shares of company stock valued at $2,221,425 over the last three months. Corporate insiders own 5.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in 3D Systems Corporation by 0.3% in the second quarter. Parallel Advisors LLC now owns 14,683 shares of the 3D printing company’s stock valued at $247,000 after buying an additional 49 shares during the last quarter. Stifel Financial Corp increased its stake in shares of 3D Systems Corporation by 0.6% in the first quarter. Stifel Financial Corp now owns 19,099 shares of the 3D printing company’s stock valued at $279,000 after buying an additional 105 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of 3D Systems Corporation by 0.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 18,527 shares of the 3D printing company’s stock valued at $277,000 after buying an additional 131 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of 3D Systems Corporation by 1.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 15,740 shares of the 3D printing company’s stock valued at $235,000 after buying an additional 200 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of 3D Systems Corporation by 1.9% in the first quarter. Private Advisor Group LLC now owns 17,786 shares of the 3D printing company’s stock valued at $255,000 after buying an additional 324 shares in the last quarter. 55.07% of the stock is owned by institutional investors and hedge funds.
3D Systems Corporation Company Profile
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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