3D Systems Corp. (NYSE:DDD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The firm currently has a $20.00 price target on the 3D printing company’s stock. Zacks Investment Research’s target price indicates a potential upside of 16.69% from the stock’s previous close.
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.”
Other equities analysts have also recently issued research reports about the company. Piper Jaffray Cos. cut 3D Systems Corp. from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $12.00 to $10.50 in a report on Monday, July 18th. Pacific Crest reiterated a “hold” rating on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Canaccord Genuity reiterated a “hold” rating and issued a $14.00 target price on shares of 3D Systems Corp. in a report on Tuesday, September 13th. Needham & Company LLC reiterated a “hold” rating on shares of 3D Systems Corp. in a report on Thursday, August 4th. Finally, Vetr cut 3D Systems Corp. from a “sell” rating to a “strong sell” rating and set a $13.10 target price for the company. in a report on Monday, July 18th. Four 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 issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.73.
3D Systems Corp. (NYSE:DDD) traded up 2.4883% during midday trading on Wednesday, hitting $17.5665. The stock had a trading volume of 1,660,316 shares. The stock’s market cap is $1.97 billion. The company’s 50 day moving average price is $15.72 and its 200-day moving average price is $14.65. 3D Systems Corp. has a 52-week low of $6.00 and a 52-week high of $19.76.
3D Systems Corp. (NYSE:DDD) last announced its earnings results on Wednesday, August 3rd. The 3D printing company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. The firm earned $158.10 million during the quarter, compared to analysts’ expectations of $161.01 million. 3D Systems Corp. had a positive return on equity of 1.55% and a negative net margin of 100.84%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. Analysts forecast that 3D Systems Corp. will post $0.39 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Villere ST Denis J & Co. LLC raised its position 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. BlackRock Fund Advisors raised its position 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. Jacobs Levy Equity Management Inc. bought a new position in 3D Systems Corp. during the first quarter valued at approximately $13,660,000. State Street Corp raised its position 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, First Trust Advisors LP bought a new position in 3D Systems Corp. during the second quarter valued at approximately $5,498,000. 50.16% of the stock is owned by hedge funds and other institutional investors.
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.
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