3D Systems (DDD) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of 3D Systems (NYSE:DDD) from a strong sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “Over the past six months, 3D Systems’ shares have grossly underperformed the industry average. 3D Systems has an extremely volatile earnings history, oscillating between incredible beat and abysmal misses in the trailing four quarters. Adverse macroeconomic factors, such as slowdown, currency fluctuations and commodity prices, hurt the company’s performance. Escalating IT and go-to-market expenses remain headwinds, going forward. Nevertheless, its diverse technology portfolio enables it to offset weaknesses associated with a single product line. The company has been benefiting from favorable 3D printing industry fundamentals, led by rising demand for diverse application of this novel technology across several domains. This apart, the company also continues to see steady performance of its Software business and believes it to be one of the major growth drivers going forward.”
Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of 3D Systems from $13.00 to $11.00 and set a neutral rating on the stock in a research note on Wednesday, November 1st. Canaccord Genuity reaffirmed a neutral rating on shares of 3D Systems in a research note on Wednesday, November 1st. Piper Jaffray Companies raised shares of 3D Systems from an underweight rating to a neutral rating and set a $6.25 price target on the stock in a research note on Monday, November 20th. Loop Capital reissued a hold rating and issued a $10.00 target price on shares of 3D Systems in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reissued a hold rating and issued a $15.00 target price on shares of 3D Systems in a research note on Wednesday, October 4th. Five equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The company currently has an average rating of Hold and an average price target of $12.70.
3D Systems (NYSE:DDD) traded up $0.25 during trading hours on Tuesday, reaching $9.31. 1,798,323 shares of the company’s stock were exchanged, compared to its average volume of 2,149,250. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 2.63. The stock has a market capitalization of $1,060.00, a P/E ratio of -20.24 and a beta of 1.47. 3D Systems has a 12 month low of $7.92 and a 12 month high of $23.70.
3D Systems (NYSE:DDD) last posted its quarterly earnings results on Tuesday, October 31st. The 3D printing company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.25). The company had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $162.22 million. 3D Systems had a negative return on equity of 5.85% and a negative net margin of 8.01%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. research analysts anticipate that 3D Systems will post -0.3 earnings per share for the current year.
In other 3D Systems news, Director G Walter Loewenbaum II bought 6,430 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $8.81 per share, with a total value of $56,648.30. Following the purchase, the director now owns 1,013,207 shares in the company, valued at approximately $8,926,353.67. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders bought 47,930 shares of company stock worth $428,048. Insiders own 5.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDD. Strs Ohio acquired a new stake in 3D Systems during the 2nd quarter valued at $115,000. PNC Financial Services Group Inc. grew its holdings in 3D Systems by 19.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,561 shares of the 3D printing company’s stock valued at $178,000 after purchasing an additional 1,552 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in 3D Systems by 77.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,926 shares of the 3D printing company’s stock valued at $186,000 after purchasing an additional 4,326 shares in the last quarter. Flinton Capital Management LLC grew its holdings in 3D Systems by 76.8% during the 2nd quarter. Flinton Capital Management LLC now owns 10,098 shares of the 3D printing company’s stock valued at $189,000 after purchasing an additional 4,386 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC acquired a new stake in 3D Systems during the 2nd quarter valued at $220,000. 60.35% of the stock is owned by institutional investors and hedge funds.
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3D Systems 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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