Zacks Investment Research cut shares of Stratasys Ltd. (NASDAQ:SSYS) from a buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “Stratasys is one of the leading 3D printing solution providers. The company recently reported dismal third-quarter 2016 results. Stratasys posted loss per share during the quarter which though was narrower than the Zacks Consensus Estimate but was wider than the year-ago quarter. Also, its revenues not only declined year over year but also missed our estimate. The company’s quarterly results were negatively impacted by difficult market conditions and lower-than-expected performance at its MakerBot business. Also, Stratasys’ downbeat guidance for 2016 was much disappointing. Nonetheless, the company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. Additionally, its efforts toward turning around MakerBot’s performance are encouraging. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright.”

Several other research analysts have also commented on SSYS. Brean Capital restated a hold rating on shares of Stratasys in a research report on Monday, August 8th. Bank of America Corp. restated an underperform rating and set a $23.00 price target on shares of Stratasys in a research report on Thursday, August 25th. Needham & Company LLC restated a buy rating and set a $24.00 price target on shares of Stratasys in a research report on Thursday, August 25th. Vetr lowered Stratasys from a strong-buy rating to a buy rating and set a $26.67 price target for the company. in a research report on Wednesday, September 28th. Finally, FBR & Co restated an outperform rating and set a $29.00 price target on shares of Stratasys in a research report on Monday, October 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Stratasys currently has an average rating of Hold and an average target price of $23.97.

Analyst Recommendations for Stratasys (NASDAQ:SSYS)

Shares of Stratasys (NASDAQ:SSYS) opened at 19.18 on Tuesday. The stock’s market cap is $1.01 billion. Stratasys has a 1-year low of $14.48 and a 1-year high of $30.46. The firm’s 50-day moving average price is $20.27 and its 200 day moving average price is $21.40.

A number of hedge funds have recently made changes to their positions in SSYS. UBS Oconnor LLC acquired a new stake in shares of Stratasys during the second quarter worth $12,856,000. State Treasurer State of Michigan boosted its stake in shares of Stratasys by 389.0% in the third quarter. State Treasurer State of Michigan now owns 374,603 shares of the company’s stock worth $9,024,000 after buying an additional 298,000 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of Stratasys during the third quarter worth $6,273,000. American Century Companies Inc. purchased a new position in Stratasys during the second quarter worth $2,934,000. Finally, Northern Trust Corp boosted its position in Stratasys by 17.2% in the third quarter. Northern Trust Corp now owns 863,045 shares of the company’s stock worth $20,791,000 after buying an additional 126,938 shares during the last quarter. 64.06% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & international trademark and copyright law. The original version of this piece can be read at https://www.thecerbatgem.com/2016/11/23/stratasys-ltd-ssys-downgraded-by-zacks-investment-research-to-hold.html.

About Stratasys

Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.

5 Day Chart for NASDAQ:SSYS

Receive News & Stock Ratings for Stratasys Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stratasys Ltd. and related stocks with our FREE daily email newsletter.