3D Systems Corp. (NYSE:DDD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors 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.”
A number of other equities research analysts also recently issued reports on the stock. FBR & Co began coverage on shares of 3D Systems Corp. in a research report on Monday, October 3rd. They issued a “market perform” rating and a $18.00 target price for the company. Vetr downgraded shares of 3D Systems Corp. from a “strong-buy” rating to a “buy” rating and set a $19.89 target price for the company. in a research report on Monday, October 3rd. Needham & Company LLC reiterated a “hold” rating on shares of 3D Systems Corp. in a research report on Tuesday, September 13th. Bank of America Corp. set a $25.00 price target on shares of 3D Systems Corp. and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, Canaccord Genuity restated a “hold” rating and set a $14.00 price target on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. 3D Systems Corp. currently has an average rating of “Hold” and a consensus price target of $15.23.
3D Systems Corp. (NYSE:DDD) opened at 17.53 on Tuesday. 3D Systems Corp. has a 52-week low of $6.00 and a 52-week high of $19.76. The stock’s market capitalization is $1.97 billion. The firm has a 50-day moving average of $16.28 and a 200-day moving average of $14.86.
3D Systems Corp. (NYSE:DDD) last released 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 negative net margin of 100.84% and a positive return on equity of 1.55%. The company earned $158.10 million during the quarter, compared to the consensus estimate of $161.01 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue was down 7.3% compared to the same quarter last year. On average, equities analysts expect that 3D Systems Corp. will post $0.39 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. M&T Bank Corp raised its stake 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 valued at $182,000 after buying an additional 612 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of 3D Systems Corp. during the second quarter valued at $172,000. Teacher Retirement System of Texas raised its stake in shares of 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 period. Thrivent Financial for Lutherans raised its stake in shares of 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 period. Finally, Legal & General Group Plc increased 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 valued at $240,000 after buying an additional 5,994 shares in the last quarter. Institutional investors and hedge funds 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.