3D Systems Corp. (DDD) Stock Rating Upgraded by Zacks Investment Research
3D Systems Corp. (NYSE:DDD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage presently has a $20.00 price target on the 3D printing company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.25% from the company’s previous close.
According to Zacks, “3D Systems is riding on increased sales of higher margin materials, software and healthcare solutions, which are supplementing the bottom-line performance. The company’s healthcare business, software and material businesses are proving to be great profit churners. 3D Systems has also been benefiting from favorable 3D printing industry fundamentals, led by rising demand for diverse applications of this novel technology across several domains. Also, the company’s restructuring initiatives look promising. Backed by its recent growth initiatives and long-term prospects of the 3D printing market, the company expects to deliver better results, going ahead. However, 3D Systems has an extremely volatile earnings history, and is currently grappling with strained growth of 3D printing products, in addition to macroeconomic factors such as slowing growth and revenue decline.”
A number of other analysts also recently issued reports on the company. Vetr downgraded 3D Systems Corp. from a “sell” rating to a “strong sell” rating and set a $13.10 target price for the company. in a research note on Monday, July 18th. Bank of America Corp. set a $25.00 target price on 3D Systems Corp. and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Piper Jaffray Cos. downgraded 3D Systems Corp. from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $12.00 to $10.50 in a research note on Monday, July 18th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of 3D Systems Corp. in a research note on Wednesday, July 20th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $14.00 target price on shares of 3D Systems Corp. in a research note on Tuesday, September 13th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. 3D Systems Corp. presently has an average rating of “Hold” and a consensus price target of $14.73.
3D Systems Corp. (NYSE:DDD) opened at 17.66 on Wednesday. The firm has a 50-day moving average of $15.85 and a 200-day moving average of $14.69. The company’s market capitalization is $1.98 billion. 3D Systems Corp. has a one year low of $6.00 and a one year high of $19.76.
3D Systems Corp. (NYSE:DDD) last issued its earnings results on Wednesday, August 3rd. The 3D printing company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. 3D Systems Corp. had a positive return on equity of 1.55% and a negative net margin of 100.84%. The business earned $158.10 million during the quarter, compared to the consensus estimate of $161.01 million. During the same period last year, the company earned $0.03 EPS. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, analysts anticipate that 3D Systems Corp. will post $0.39 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC acquired a new stake in 3D Systems Corp. during the second quarter valued at $172,000. M&T Bank Corp boosted its stake in 3D Systems Corp. by 5.5% in the first quarter. M&T Bank Corp now owns 11,773 shares of the 3D printing company’s stock valued at $182,000 after buying an additional 612 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in 3D Systems Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 14,771 shares of the 3D printing company’s stock valued at $202,000 after buying an additional 1,805 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in 3D Systems Corp. by 14.5% in the second quarter. Thrivent Financial for Lutherans now owns 15,070 shares of the 3D printing company’s stock valued at $206,000 after buying an additional 1,910 shares during the last quarter. Finally, Advisor Group Inc. acquired a new stake in 3D Systems Corp. during the second quarter valued at $211,000. Hedge funds and other institutional investors own 50.16% of the company’s stock.
About 3D Systems Corp.
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) products and services, including 3D printers, print materials, parts services and digital design and manufacturing tools. Its ecosystem supports applications from the product design shop to the factory floor to the operating room.
Receive News & Stock Ratings for 3D Systems Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3D Systems Corp. and related stocks with our FREE daily email newsletter.