Stratasys (NASDAQ:SSYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Stratasys is one of the leading 3D printing solution providers. The stock has outperformed the broader market in the last one year period. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. The company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright. Notably, data from the MarketsandMarkets report 2017 revealed that the worldwide 3D printing industry is expected to grow at a CAGR of 25.76% through 2017 to 2023. Nonetheless, we remain concerned about the company’s declining gross margin which has been impacted by the incremental sales generated from the lower-margin products of acquired businesses including MakerBot, Solid Concepts and Harvest Technologies.”
A number of other analysts have also recently commented on the company. UBS Group upgraded Stratasys from a “neutral” rating to a “positive” rating in a research report on Friday, October 20th. B. Riley reiterated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Stratasys in a research report on Thursday, November 2nd. Susquehanna Bancshares upgraded Stratasys from a “neutral” rating to a “positive” rating and set a $22.00 price objective for the company in a research report on Friday, October 20th. Citigroup set a $29.00 price objective on Stratasys and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Finally, Cowen reiterated a “hold” rating and set a $23.00 price objective on shares of Stratasys in a research report on Sunday, September 17th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.80.
Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Tuesday, November 14th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Stratasys had a positive return on equity of 0.62% and a negative net margin of 6.74%. The business had revenue of $155.90 million during the quarter, compared to analysts’ expectations of $160.97 million. The business’s quarterly revenue was down .8% on a year-over-year basis. analysts forecast that Stratasys will post 0.17 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of SSYS. Ameritas Investment Partners Inc. grew its holdings in Stratasys by 11.7% in the 2nd 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. Advisor Group Inc. grew its holdings in Stratasys by 6.8% in the 2nd 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. SG Americas Securities LLC grew its holdings in Stratasys by 24.8% in the 2nd quarter. SG Americas Securities LLC now owns 8,436 shares of the technology company’s stock valued at $197,000 after buying an additional 1,674 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Stratasys in the 2nd quarter valued at about $200,000. Finally, Chicago Equity Partners LLC purchased a new stake in Stratasys in the 3rd quarter valued at about $214,000. Institutional investors own 70.99% of the company’s stock.
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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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