Zacks Investment Research Downgrades 3D Systems Corp. (DDD) to Hold
3D Systems Corp. (NYSE:DDD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “3D Systems has an extremely volatile earnings history, oscillating between incredible beats and abysmal misses in the trailing four quarters. Factors like increased sales of higher margin materials, software and healthcare solutions are proving to be conducive to the bottom-line performance. The company’s healthcare software and material businesses are proving to be great profit churners. Also, rising demand for this novel technology across several applications and industries add to the company's strength. However, unfavorable macroeconomic factors such as slowdown, inflation, currency fluctuations, commodity prices and credit availability impacted the company’s performance. Moreover, 3D System operates in a highly dynamic and competitive market which adds to its risks. This apart, escalating R&D expenses and precipitous revenue decline may prove as significant headwinds for the company, going forward.”
Several other brokerages also recently weighed in on DDD. FBR & Co assumed coverage on shares of 3D Systems Corp. in a research note on Monday. They issued a “market perform” rating and a $18.00 target price for the company. Vetr cut shares of 3D Systems Corp. from a “strong-buy” rating to a “buy” rating and set a $19.89 price target on the stock. in a report on Monday. Canaccord Genuity reaffirmed a “hold” rating and issued a $14.00 price target on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Jefferies Group reaffirmed a “hold” rating and issued a $15.00 price target on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. 3D Systems Corp. presently has an average rating of “Hold” and an average target price of $15.18.
Shares of 3D Systems Corp. (NYSE:DDD) traded down 1.12% on Tuesday, reaching $17.73. 992,678 shares of the company’s stock traded hands. The company has a 50 day moving average of $16.00 and a 200-day moving average of $14.77. The stock’s market capitalization is $1.99 billion. 3D Systems Corp. has a 52 week low of $6.00 and a 52 week high of $19.76.
3D Systems Corp. (NYSE:DDD) last announced its earnings results on Wednesday, August 3rd. The 3D printing company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business earned $158.10 million during the quarter, compared to the consensus estimate of $161.01 million. 3D Systems Corp. had a negative net margin of 100.84% and a positive return on equity of 1.55%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. Equities research analysts forecast that 3D Systems Corp. will post $0.39 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Thrax Management LLC bought a new position in shares of 3D Systems Corp. during the first quarter worth about $464,000. Jacobs Levy Equity Management Inc. bought a new position in shares of 3D Systems Corp. during the first quarter worth about $13,660,000. Legal & General Group Plc raised its position in shares of 3D Systems Corp. by 62.7% in the first quarter. Legal & General Group Plc now owns 15,556 shares of the 3D printing company’s stock worth $240,000 after buying an additional 5,994 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of 3D Systems Corp. during the first quarter worth about $387,000. Finally, M&T Bank Corp raised its position in shares of 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 worth $182,000 after buying an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 50.16% of the company’s stock.
3D Systems Corp. Company Profile
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.
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