Zacks Investment Research upgraded shares of 3D Systems Corp. (NYSE:DDD) from a hold rating to a strong-buy rating in a report published on Wednesday. They currently have $20.00 price objective on the 3D printing company’s stock.
According to Zacks, “3D Systems is riding on increased sales of higher margin materials, software and healthcare solutions, which are supplementing the bottom-line performance. The company’s healthcare business, software and material businesses are proving to be great profit churners. 3D Systems has also been benefiting from favorable 3D printing industry fundamentals, led by rising demand for diverse applications of this novel technology across several domains. Also, the company’s restructuring initiatives look promising. Backed by its recent growth initiatives and long-term prospects of the 3D printing market, the company expects to deliver better results, going ahead. However, 3D Systems has an extremely volatile earnings history, and is currently grappling with strained growth of 3D printing products, in addition to macroeconomic factors such as slowing growth and revenue decline.”
DDD has been the topic of several other research reports. Vetr raised 3D Systems Corp. from a sell rating to a buy rating and set a $17.50 target price on the stock in a research note on Monday. Lake Street Capital started coverage on 3D Systems Corp. in a research note on Tuesday. They issued a buy rating on the stock. Bank of America Corp. set a $25.00 price target on 3D Systems Corp. and gave the stock a buy rating in a report on Tuesday, September 13th. JPMorgan Chase & Co. restated a sell rating on shares of 3D Systems Corp. in a report on Wednesday, July 20th. Finally, Pacific Crest restated an equal weight rating on shares of 3D Systems Corp. in a report on Sunday, June 5th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. 3D Systems Corp. currently has an average rating of Hold and an average price target of $14.73.
Shares of 3D Systems Corp. (NYSE:DDD) traded down 0.51% during midday trading on Wednesday, hitting $17.64. The stock had a trading volume of 527,414 shares. The company’s market capitalization is $1.98 billion. 3D Systems Corp. has a one year low of $6.00 and a one year high of $19.76. The firm’s 50-day moving average is $15.79 and its 200 day moving average is $14.67.
3D Systems Corp. (NYSE:DDD) last released 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. 3D Systems Corp. had a positive return on equity of 1.55% and a negative net margin of 100.84%. The firm had revenue of $158.10 million for the quarter, compared to analyst estimates of $161.01 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts expect that 3D Systems Corp. will post $0.39 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 3D Systems Corp. by 5.2% in the second quarter. Vanguard Group Inc. now owns 7,901,068 shares of the 3D printing company’s stock valued at $108,165,000 after buying an additional 392,703 shares during the last quarter. BlackRock Fund Advisors boosted its stake in 3D Systems Corp. by 43.6% in the second quarter. BlackRock Fund Advisors now owns 5,705,547 shares of the 3D printing company’s stock valued at $78,109,000 after buying an additional 1,733,230 shares during the last quarter. Villere ST Denis J & Co. LLC boosted its stake in 3D Systems Corp. by 54.0% in the second quarter. Villere ST Denis J & Co. LLC now owns 5,589,086 shares of the 3D printing company’s stock valued at $76,514,000 after buying an additional 1,959,863 shares during the last quarter. State Street Corp boosted its stake in 3D Systems Corp. by 22.5% in the second quarter. State Street Corp now owns 3,400,659 shares of the 3D printing company’s stock valued at $46,554,000 after buying an additional 625,061 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in 3D Systems Corp. by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,098,413 shares of the 3D printing company’s stock valued at $42,417,000 after buying an additional 51,850 shares during the last quarter. 50.16% of the stock is owned by institutional investors and hedge funds.
About 3D Systems Corp.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for 3D Systems Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3D Systems Corp. and related companies with MarketBeat.com's FREE daily email newsletter.