3D Systems Corporation (DDD) Downgraded to Strong Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of 3D Systems Corporation (NYSE:DDD) from a hold rating to a strong sell rating in a research note released on Monday.
According to Zacks, “In keeping with its bleak earnings history, 3D Systems’ missed estimates for the third consecutive quarter, with its third-quarter 2017 earnings missing by a whopping 281.8%, dragged by top-line contraction and a disproportionate rise in cost of sales. In light of the miserable results, the company’s management withdrew its 2017 guidance. Shrinking margins and the lack of guidance offers little clarity into the company's future, which has spooked investors. Further, an increasingly competitive operating environment is likely to weigh heavily on 3D Systems' growth prospects. Consequently, its shares have grossly underperformed the industry’s average return over the past six months. Escalating IT and go-to-market expenses remain headwinds to profit, going forward. Nevertheless, strong demand for materials, software and healthcare solutions will likely help it to offset these weaknesses to some extent.”
A number of other research analysts have also recently issued reports on DDD. Susquehanna Bancshares Inc initiated coverage on shares of 3D Systems Corporation in a research report on Thursday, July 13th. They set a neutral rating and a $16.00 price target for the company. Loop Capital assumed coverage on shares of 3D Systems Corporation in a research report on Monday, July 24th. They set a hold rating and a $18.00 price target for the company. BidaskClub lowered shares of 3D Systems Corporation from a sell rating to a strong sell rating in a research note on Monday, July 31st. J P Morgan Chase & Co upgraded shares of 3D Systems Corporation from an underweight rating to a neutral rating and set a $13.00 price objective for the company in a research note on Friday, August 4th. Finally, Deutsche Bank AG restated a hold rating and set a $15.00 price objective (down from $16.00) on shares of 3D Systems Corporation in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the company. 3D Systems Corporation currently has an average rating of Hold and a consensus price target of $13.24.
Shares of 3D Systems Corporation (NYSE DDD) traded up $0.16 during midday trading on Monday, reaching $8.64. 4,114,300 shares of the company were exchanged, compared to its average volume of 3,250,000. 3D Systems Corporation has a one year low of $8.09 and a one year high of $23.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.63 and a quick ratio of 1.94.
3D Systems Corporation (NYSE:DDD) last issued its quarterly earnings results on Tuesday, October 31st. The 3D printing company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.25). 3D Systems Corporation had a negative net margin of 8.01% and a negative return on equity of 5.85%. The business had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $162.22 million. During the same period last year, the business earned $0.14 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. research analysts forecast that 3D Systems Corporation will post -0.13 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in DDD. BlackRock Inc. grew its position in 3D Systems Corporation by 23,856.2% during the first quarter. BlackRock Inc. now owns 11,328,150 shares of the 3D printing company’s stock valued at $169,471,000 after buying an additional 11,280,863 shares during the period. Pictet Asset Management Ltd. grew its position in 3D Systems Corporation by 294.2% during the third quarter. Pictet Asset Management Ltd. now owns 2,547,720 shares of the 3D printing company’s stock valued at $34,115,000 after buying an additional 1,901,406 shares during the period. Quantitative Investment Management LLC bought a new stake in 3D Systems Corporation during the second quarter valued at approximately $9,353,000. Vanguard Group Inc. grew its position in 3D Systems Corporation by 5.2% during the second quarter. Vanguard Group Inc. now owns 9,057,170 shares of the 3D printing company’s stock valued at $169,369,000 after buying an additional 446,186 shares during the period. Finally, Investment Management of Virginia LLC grew its position in 3D Systems Corporation by 20.8% during the third quarter. Investment Management of Virginia LLC now owns 1,906,710 shares of the 3D printing company’s stock valued at $25,531,000 after buying an additional 328,929 shares during the period. Institutional investors own 58.43% of the company’s stock.
3D Systems Corporation Company Profile
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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