Zacks Investment Research lowered shares of 3D Systems (NYSE:DDD) from a hold rating to a sell rating in a report released on Wednesday.
According to Zacks, “3D Systems reported better-than-expected Q1 top-line results which also marked a year-over-year improvement. 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. Going forward, strong demand for production printers, materials and software, as well as healthcare solutions will likely act as major catalysts for growth. We also believe that last year’s acquisition of Vertex-Global Holding B.V has unlocked multiple opportunities for the company. 3D Systems’ shares have grossly outperformed the industry average in the year-to-date period. Nonetheless, the company’s declining gross margin due to unfavorable sales mix and increased investment in services, and on-demand manufacturing, is a major concern. This apart, escalating R&D, IT and go-to-market expense may prove as significant headwinds, going forward.”
Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of 3D Systems from $11.00 to $12.00 and gave the company a hold rating in a research note on Thursday, March 15th. Loop Capital dropped their target price on shares of 3D Systems to $10.00 and set a hold rating for the company in a research report on Thursday, May 3rd. ValuEngine upgraded shares of 3D Systems from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Susquehanna Bancshares set a $12.00 target price on shares of 3D Systems and gave the company a hold rating in a research report on Friday, March 16th. Finally, Deutsche Bank lifted their target price on shares of 3D Systems from $9.00 to $13.00 and gave the company a hold rating in a research report on Friday, March 16th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $11.74.
Shares of 3D Systems opened at $12.67 on Wednesday, Marketbeat.com reports. The company has a market cap of $1.44 billion, a P/E ratio of -22.23 and a beta of 1.41. 3D Systems has a 12 month low of $7.92 and a 12 month high of $23.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.51.
3D Systems (NYSE:DDD) last issued its quarterly earnings data on Wednesday, May 2nd. The 3D printing company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). The firm had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $159.59 million. 3D Systems had a negative net margin of 11.77% and a negative return on equity of 10.41%. 3D Systems’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. equities research analysts anticipate that 3D Systems will post -0.2 earnings per share for the current year.
In other 3D Systems news, Director G Walter Loewenbaum II acquired 16,475 shares of the stock in a transaction dated Monday, May 7th. The stock was purchased at an average cost of $10.12 per share, for a total transaction of $166,727.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of 3D Systems by 4.0% in the 1st quarter. BlackRock Inc. now owns 12,686,205 shares of the 3D printing company’s stock worth $147,033,000 after acquiring an additional 482,072 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of 3D Systems by 297.2% in the 1st quarter. OppenheimerFunds Inc. now owns 8,015,050 shares of the 3D printing company’s stock worth $92,894,000 after acquiring an additional 5,997,340 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of 3D Systems by 86.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,807,983 shares of the 3D printing company’s stock worth $50,181,000 after acquiring an additional 2,697,683 shares during the last quarter. Villere ST Denis J & Co. LLC lifted its holdings in shares of 3D Systems by 35.2% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 5,783,110 shares of the 3D printing company’s stock worth $67,026,000 after acquiring an additional 1,506,300 shares during the last quarter. Finally, Investment Management of Virginia LLC lifted its holdings in shares of 3D Systems by 11.9% in the 1st quarter. Investment Management of Virginia LLC now owns 2,064,414 shares of the 3D printing company’s stock worth $23,926,000 after acquiring an additional 219,119 shares during the last quarter. Hedge funds and other institutional investors own 63.14% of the company’s stock.
About 3D Systems
3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
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