Stratasys, Ltd. (SSYS) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Stratasys, Ltd. (NASDAQ:SSYS) from a hold rating to a buy rating in a research note issued to investors on Friday. The firm currently has $23.00 price target on the technology company’s stock.
According to Zacks, “Stratasys reported mixed results for third-quarter 2017, wherein the bottom line surpassed the Zacks Consensus Estimate but the top line missed the same. Furthermore, although revenues witnessed a marginal fall, earnings improved significantly on a year-over-year basis. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. The company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright. Data from the MarketsandMarkets report 2017 revealed that the worldwide 3D printing industry is expected to grow at a CAGR of 25.76% through 2017 to 2023 and reach $32.78 billion by the end of 2023. Notably, the stock has outperformed the industry in the year-to-date period.”
Other equities research analysts have also issued research reports about the stock. Loop Capital began coverage on shares of Stratasys in a research note on Monday, July 24th. They set a hold rating and a $24.00 price target for the company. Cowen and Company restated a market perform rating and set a $23.00 price target (down previously from $27.00) on shares of Stratasys in a research note on Thursday, August 10th. B. Riley restated a hold rating and set a $30.00 price target on shares of Stratasys in a research note on Wednesday, November 15th. BidaskClub downgraded shares of Stratasys from a buy rating to a hold rating in a report on Thursday, August 17th. Finally, Deutsche Bank AG cut their price objective on shares of Stratasys from $31.00 to $25.00 and set a hold rating for the company in a report on Thursday, August 10th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $24.74.
Shares of Stratasys (NASDAQ SSYS) opened at $21.31 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.58 and a quick ratio of 2.82. The company has a market cap of $1,116.18, a PE ratio of 149.86, a price-to-earnings-growth ratio of 6.36 and a beta of 1.40. Stratasys has a one year low of $16.37 and a one year high of $30.88.
Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Tuesday, November 14th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Stratasys had a negative net margin of 6.74% and a positive return on equity of 0.62%. The company had revenue of $155.90 million during the quarter, compared to analyst estimates of $160.97 million. The company’s revenue was down .8% on a year-over-year basis. equities research analysts forecast that Stratasys will post 0.17 earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Stratasys by 11.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,388 shares of the technology company’s stock valued at $102,000 after purchasing an additional 458 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Stratasys during the 2nd quarter valued at about $184,000. Advisor Group Inc. boosted its stake in shares of Stratasys by 6.8% during the 2nd quarter. Advisor Group Inc. now owns 8,254 shares of the technology company’s stock valued at $193,000 after purchasing an additional 528 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Stratasys by 24.8% during the 2nd quarter. SG Americas Securities LLC now owns 8,436 shares of the technology company’s stock valued at $197,000 after purchasing an additional 1,674 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Stratasys during the 2nd quarter valued at about $200,000. 70.13% of the stock is currently owned by hedge funds and other institutional investors.
Stratasys Company Profile
Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.
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