Stratasys, Ltd. (SSYS) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Stratasys, Ltd. (NASDAQ:SSYS) from a buy rating to a hold rating in a report released on Thursday.
According to Zacks, “Stratasys is a manufacturer of in-office rapid prototyping (RP) and manufacturing systems and 3D printers. The stock has outperformed the industry on a year to date basis. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright. Data from the Wohlers Report revealed that the worldwide 3D printing industry is projected to grow from $3.07 billion in 2013 to $12.8 billion by 2018, and exceed $21 billion by 2020 at a CAGR of 34%. However, some customers are delaying their purchases owing to the current economic conditions. Going forward, competition from 3D Systems Corporation is also a potent headwind.”
A number of other analysts have also issued reports on the company. FBR & Co reiterated a buy rating on shares of Stratasys in a report on Wednesday, July 19th. Citigroup Inc. upgraded Stratasys from a neutral rating to a buy rating and lowered their price target for the company from $32.00 to $29.00 in a report on Thursday, August 10th. BidaskClub lowered Stratasys from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a hold rating and issued a $30.00 price target on shares of Stratasys in a report on Friday, August 4th. Finally, William Blair downgraded shares of Stratasys from a market perform rating to an underperform rating in a research note on Monday, May 15th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Stratasys presently has a consensus rating of Hold and a consensus price target of $23.66.
Stratasys (NASDAQ SSYS) remained flat at $21.74 during mid-day trading on Thursday. 244,292 shares of the stock were exchanged. Stratasys has a 12-month low of $16.37 and a 12-month high of $30.88. The firm’s market cap is $1.15 billion. The firm has a 50-day moving average price of $23.20 and a 200 day moving average price of $23.48.
Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.16. The company had revenue of $170 million during the quarter, compared to analyst estimates of $167.82 million. Stratasys had a positive return on equity of 0.29% and a negative net margin of 8.33%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. On average, analysts anticipate that Stratasys will post $0.37 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its stake in shares of Stratasys by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,388 shares of the technology company’s stock valued at $102,000 after buying an additional 458 shares during the period. IFP Advisors Inc increased its stake in shares of Stratasys by 3.3% in the first quarter. IFP Advisors Inc now owns 6,977 shares of the technology company’s stock valued at $143,000 after buying an additional 225 shares during the period. Penserra Capital Management LLC increased its stake in shares of Stratasys by 75.0% in the first quarter. Penserra Capital Management LLC now owns 7,476 shares of the technology company’s stock valued at $153,000 after buying an additional 3,204 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of Stratasys during the second quarter valued at about $184,000. Finally, Advisor Group Inc. increased its stake in shares of Stratasys by 6.8% in the second quarter. Advisor Group Inc. now owns 8,254 shares of the technology company’s stock valued at $193,000 after buying an additional 528 shares during the period. 67.32% of the stock is currently owned by institutional investors.
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.
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