3D Systems (NYSE:DDD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Over the past six months, 3D Systems’ shares have grossly underperformed the industry average. 3D Systems has an extremely volatile earnings history, oscillating between incredible beat and abysmal misses in the trailing four quarters. Adverse macroeconomic factors, such as slowdown, currency fluctuations and commodity prices, hurt the company’s performance. Escalating IT and go-to-market expenses remain headwinds, going forward. Nevertheless, its diverse technology portfolio enables it to offset weaknesses associated with a single product line. The company has been benefiting from favorable 3D printing industry fundamentals, led by rising demand for diverse application of this novel technology across several domains. This apart, the company also continues to see steady performance of its Software business and believes it to be one of the major growth drivers going forward.”
A number of other brokerages have also issued reports on DDD. Bank of America lowered shares of 3D Systems from a “buy” rating to an “underperform” rating and upped their price objective for the company from $9.63 to $12.38 in a report on Wednesday, November 1st. Citigroup dropped their price objective on shares of 3D Systems from $13.00 to $8.50 and set a “sell” rating for the company in a report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $10.00 target price on shares of 3D Systems in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 target price (down previously from $15.00) on shares of 3D Systems in a research report on Wednesday, November 1st. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $17.00 target price on shares of 3D Systems in a research report on Tuesday, October 3rd. Five research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. 3D Systems presently has an average rating of “Hold” and a consensus price target of $12.70.
3D Systems (NYSE:DDD) last announced its quarterly earnings data on Tuesday, October 31st. The 3D printing company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.25). 3D Systems had a negative net margin of 8.01% and a negative return on equity of 5.85%. The firm had revenue of $152.90 million during the quarter, compared to analysts’ expectations of $162.22 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. equities analysts anticipate that 3D Systems will post -0.3 EPS for the current year.
In related news, Director G Walter Loewenbaum II bought 40,500 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were bought at an average price of $8.94 per share, with a total value of $362,070.00. Following the completion of the transaction, the director now directly owns 1,053,707 shares of the company’s stock, valued at approximately $9,420,140.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 47,930 shares of company stock worth $428,048 in the last ninety days. 5.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of 3D Systems during the second quarter worth about $115,000. PNC Financial Services Group Inc. lifted its position in shares of 3D Systems by 19.4% during the second quarter. PNC Financial Services Group Inc. now owns 9,561 shares of the 3D printing company’s stock worth $178,000 after purchasing an additional 1,552 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of 3D Systems by 77.3% during the second quarter. Riverhead Capital Management LLC now owns 9,926 shares of the 3D printing company’s stock worth $186,000 after purchasing an additional 4,326 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of 3D Systems by 76.8% during the second quarter. Flinton Capital Management LLC now owns 10,098 shares of the 3D printing company’s stock worth $189,000 after purchasing an additional 4,386 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC acquired a new stake in shares of 3D Systems during the second quarter worth about $220,000. 60.35% of the stock is currently owned by institutional investors and hedge funds.
About 3D Systems
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.
Receive News & Ratings for 3D Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3D Systems and related companies with MarketBeat.com's FREE daily email newsletter.