3D Systems (DDD) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of 3D Systems (NYSE:DDD) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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.”

Several other equities analysts also recently issued reports on the stock. Piper Jaffray Companies upgraded shares of 3D Systems from an underweight rating to a neutral rating and set a $6.25 price objective for the company in a research note on Monday, November 20th. ValuEngine upgraded shares of 3D Systems from a sell rating to a hold rating in a research note on Thursday, November 9th. Citigroup decreased their price objective on shares of 3D Systems from $13.00 to $8.50 and set a sell rating for the company in a research note on Thursday, November 2nd. Canaccord Genuity restated a neutral rating on shares of 3D Systems in a research note on Wednesday, November 1st. Finally, FBR & Co downgraded shares of 3D Systems from a neutral rating to a sell rating in a research note on Wednesday, November 1st. Five analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $12.70.

3D Systems (NYSE DDD) remained flat at $$9.36 during midday trading on Tuesday. 444,194 shares of the company’s stock were exchanged, compared to its average volume of 2,092,833. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.63 and a quick ratio of 1.94. 3D Systems has a one year low of $7.92 and a one year high of $23.70. The company has a market cap of $1,070.00, a price-to-earnings ratio of -20.35 and a beta of 1.47.

3D Systems (NYSE:DDD) last released its quarterly earnings data on Tuesday, October 31st. The 3D printing company reported ($0.20) earnings per share (EPS) for the quarter, missing the 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 company had revenue of $152.90 million during the quarter, compared to analyst estimates of $162.22 million. During the same quarter in the prior year, the company earned $0.14 EPS. The business’s revenue was down 2.2% on a year-over-year basis. analysts forecast that 3D Systems will post -0.3 EPS for the current year.

In other 3D Systems news, Director G Walter Loewenbaum II bought 6,430 shares of 3D Systems stock in a transaction dated Friday, December 1st. The stock was acquired at an average cost of $8.81 per share, with a total value of $56,648.30. Following the completion of the acquisition, the director now owns 1,013,207 shares of the company’s stock, valued at $8,926,353.67. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought 47,930 shares of company stock valued at $428,048 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Several large investors have recently made changes to their positions in DDD. Strs Ohio purchased a new stake in shares of 3D Systems in the second quarter valued at about $115,000. Schwab Charles Investment Management Inc. raised its holdings in 3D Systems by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 473,255 shares of the 3D printing company’s stock worth $8,850,000 after purchasing an additional 13,894 shares in the last quarter. Rhumbline Advisers raised its holdings in 3D Systems by 1.0% during the second quarter. Rhumbline Advisers now owns 213,623 shares of the 3D printing company’s stock worth $3,995,000 after purchasing an additional 2,162 shares in the last quarter. Legal & General Group Plc raised its holdings in 3D Systems by 19.7% during the second quarter. Legal & General Group Plc now owns 86,621 shares of the 3D printing company’s stock worth $1,626,000 after purchasing an additional 14,238 shares in the last quarter. Finally, Comerica Bank raised its holdings in 3D Systems by 1.5% during the second quarter. Comerica Bank now owns 84,012 shares of the 3D printing company’s stock worth $1,495,000 after purchasing an additional 1,211 shares in the last quarter. 60.35% of the stock is owned by institutional investors and hedge funds.

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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.

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