Zacks Investment Research lowered shares of 3D Systems (NYSE:DDD) from a hold rating to a sell rating in a report released on Wednesday morning.
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.”
DDD has been the topic of several other research reports. ValuEngine lowered shares of 3D Systems from a sell rating to a strong sell rating in a research report on Monday, April 2nd. JPMorgan Chase set a $9.00 price objective on shares of 3D Systems and gave the stock a sell rating in a research report on Thursday, May 3rd. Vetr raised shares of 3D Systems from a buy rating to a strong-buy rating and set a $12.44 price objective on the stock in a research report on Tuesday, January 16th. Deutsche Bank lifted their price objective on shares of 3D Systems from $9.00 to $13.00 and gave the stock a hold rating in a research report on Friday, March 16th. Finally, William Blair reaffirmed an outperform rating on shares of 3D Systems in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $11.74.
Shares of DDD stock opened at $12.67 on Wednesday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -22.23 and a beta of 1.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.51 and a current ratio of 2.02. 3D Systems has a 52 week low of $7.92 and a 52 week high of $23.19.
3D Systems (NYSE:DDD) last announced 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 company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $159.59 million. 3D Systems had a negative return on equity of 10.41% and a negative net margin of 11.77%. The business’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. research analysts predict that 3D Systems will post -0.2 earnings per share for the current year.
In other 3D Systems news, Director G Walter Loewenbaum II bought 16,475 shares of 3D Systems stock in a transaction dated Monday, May 7th. The stock was purchased at an average price of $10.12 per share, for a total transaction of $166,727.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. CIBC World Markets Inc. purchased a new position in 3D Systems during the first quarter valued at approximately $302,000. Legal & General Group Plc grew its stake in 3D Systems by 1,095.3% during the first quarter. Legal & General Group Plc now owns 1,224,450 shares of the 3D printing company’s stock valued at $14,191,000 after acquiring an additional 1,122,010 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in 3D Systems during the first quarter valued at approximately $366,000. Guggenheim Capital LLC grew its stake in 3D Systems by 38.1% during the first quarter. Guggenheim Capital LLC now owns 143,095 shares of the 3D printing company’s stock valued at $1,659,000 after acquiring an additional 39,474 shares in the last quarter. Finally, Think Investments LP grew its stake in 3D Systems by 269.1% during the first quarter. Think Investments LP now owns 864,000 shares of the 3D printing company’s stock valued at $10,014,000 after acquiring an additional 629,900 shares in the last quarter. 63.14% of the stock is owned by institutional investors.
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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