Zacks Investment Research Downgrades Materialise (NASDAQ:MTLS) to Strong Sell

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Zacks Investment Research downgraded shares of Materialise (NASDAQ:MTLS) from a hold rating to a strong sell rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “Materialise NV is a provider of Additive Manufacturing (AM) software solutions and sophisticated 3D printing services in a wide variety of industries, including healthcare, automotive, aerospace, art and design and consumer products. The Company specializes in preparation of 3D prototypes for manufactures, software development, biomedical research, and online services. It is also engaged in the development of solutions for orthopedics, biomedical software and engineering, and printing of cardiovascular models. Materialise NV is headquartered in Leuven, Belgium. “

A number of other equities analysts also recently weighed in on MTLS. ValuEngine raised Materialise from a buy rating to a strong-buy rating in a research report on Friday, June 28th. TheStreet raised Materialise from a c rating to a b rating in a research report on Tuesday, August 6th. Finally, BidaskClub raised Materialise from a buy rating to a strong-buy rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $18.69.

NASDAQ:MTLS opened at $17.79 on Friday. Materialise has a twelve month low of $11.16 and a twelve month high of $22.99. The company has a current ratio of 2.14, a quick ratio of 2.02 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average price is $18.50. The firm has a market cap of $929.74 million, a P/E ratio of 254.14, a P/E/G ratio of 13.65 and a beta of 0.50.

Materialise (NASDAQ:MTLS) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Materialise had a return on equity of 1.67% and a net margin of 1.19%. The firm had revenue of $55.08 million for the quarter, compared to analyst estimates of $54.53 million. As a group, research analysts forecast that Materialise will post 0.06 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Materialise by 40.9% in the second quarter. Wells Fargo & Company MN now owns 13,831 shares of the software maker’s stock valued at $270,000 after buying an additional 4,015 shares during the period. Pendal Group Ltd bought a new stake in shares of Materialise in the second quarter valued at $431,000. Aperio Group LLC bought a new stake in shares of Materialise in the second quarter valued at $38,000. KBC Group NV raised its stake in shares of Materialise by 16.8% in the second quarter. KBC Group NV now owns 113,550 shares of the software maker’s stock valued at $2,216,000 after buying an additional 16,347 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of Materialise by 1.6% in the second quarter. ARK Investment Management LLC now owns 2,792,678 shares of the software maker’s stock valued at $54,513,000 after buying an additional 43,519 shares during the period. Institutional investors own 24.23% of the company’s stock.

About Materialise

Materialise NV provides additive manufacturing software and 3D printing services in Europe, the Americas, Africa, and the Asia-Pacific. The company's Materialise Software segment offers proprietary software through programs and platforms that enable and enhance the functionality of 3D printers and of 3D printing operations.

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