Zacks Investment Research upgraded shares of 3D Systems (NYSE:DDD) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. The firm currently has $7.50 price objective on the 3D printing company’s stock.
According to Zacks, “3D Systems reported weak Q2 results wherein revenues and earnings declined year over year. The company is hurt by a disruption in shipments of its metal printers, due to a technical glitch. Moreover, last year’s large orders from Align poses a key challenge throughout the current year. Soft sales in on-demand manufacturing due to lower demand from the automotive industry in Europe and business alignments related to export compliance and outsourcing are a downside. However, the company’s cost-control initiative and its decision to exit the entertainment business are likely to boost its bottom line, going forward. The company is also benefiting from growth in simulator, dental and advanced manufacturing. Despite the current revenue headwinds, 3D Systems expects printers, materials, healthcare and software to be long-term drivers.”
Other equities analysts have also issued research reports about the company. Piper Jaffray Companies dropped their price objective on 3D Systems from $18.00 to $12.50 and set an overweight rating for the company in a research note on Wednesday, May 8th. Craig Hallum started coverage on 3D Systems in a research note on Monday, April 22nd. They issued a hold rating and a $12.00 price objective for the company. Bank of America dropped their price objective on 3D Systems from $10.00 to $9.00 and set an underperform rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lowered 3D Systems from a neutral rating to an underweight rating and dropped their price objective for the stock from $8.00 to $7.00 in a research note on Thursday, August 8th. Finally, TheStreet lowered 3D Systems from a c- rating to a d rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. 3D Systems currently has an average rating of Hold and a consensus target price of $10.00.
3D Systems (NYSE:DDD) last issued its quarterly earnings results on Wednesday, August 7th. The 3D printing company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The company had revenue of $157.30 million during the quarter, compared to analysts’ expectations of $160.74 million. 3D Systems had a negative return on equity of 8.98% and a negative net margin of 9.78%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. Equities research analysts forecast that 3D Systems will post -0.33 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DDD. CWM LLC boosted its stake in 3D Systems by 823.5% during the second quarter. CWM LLC now owns 3,925 shares of the 3D printing company’s stock valued at $36,000 after buying an additional 3,500 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in shares of 3D Systems by 5,693.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,967 shares of the 3D printing company’s stock valued at $64,000 after purchasing an additional 5,864 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of 3D Systems by 144.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,446 shares of the 3D printing company’s stock valued at $69,000 after purchasing an additional 3,804 shares during the last quarter. NumerixS Investment Technologies Inc lifted its stake in shares of 3D Systems by 63.6% in the 1st quarter. NumerixS Investment Technologies Inc now owns 9,200 shares of the 3D printing company’s stock valued at $98,000 after purchasing an additional 3,575 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of 3D Systems by 9,413.0% in the 2nd quarter. Captrust Financial Advisors now owns 10,940 shares of the 3D printing company’s stock valued at $100,000 after purchasing an additional 10,825 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.
3D Systems Company Profile
3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
Further Reading: What is the Coverage Ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.