3D Systems (DDD) Downgraded by Gabelli to “Hold”

Gabelli downgraded shares of 3D Systems (NYSE:DDD) from a buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat.com reports.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of 3D Systems from a strong-buy rating to a hold rating in a report on Tuesday, October 16th. ValuEngine upgraded shares of 3D Systems from a buy rating to a strong-buy rating in a research note on Thursday, August 9th. Piper Jaffray Companies reiterated a sell rating and issued a $14.00 target price on shares of 3D Systems in a research note on Wednesday, August 8th. Canaccord Genuity reiterated a hold rating and issued a $13.00 target price (up from $11.00) on shares of 3D Systems in a research note on Wednesday, August 8th. Finally, Loop Capital lifted their target price on shares of 3D Systems to $17.00 and gave the stock a hold rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. 3D Systems has an average rating of Hold and a consensus target price of $13.74.

NYSE:DDD opened at $12.93 on Wednesday. 3D Systems has a fifty-two week low of $7.92 and a fifty-two week high of $21.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 1.44.

3D Systems (NYSE:DDD) last released its quarterly earnings results on Tuesday, October 30th. The 3D printing company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). 3D Systems had a negative net margin of 7.53% and a negative return on equity of 5.12%. The firm had revenue of $164.50 million during the quarter, compared to the consensus estimate of $171.82 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that 3D Systems will post -0.13 earnings per share for the current year.

In related news, EVP Andrew Martin Johnson sold 4,200 shares of 3D Systems stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $17.80, for a total value of $74,760.00. Following the completion of the sale, the executive vice president now directly owns 208,825 shares in the company, valued at approximately $3,717,085. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kevin Mcalea sold 20,000 shares of 3D Systems stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $21.21, for a total transaction of $424,200.00. Following the completion of the sale, the chief operating officer now owns 250,257 shares of the company’s stock, valued at $5,307,950.97. The disclosure for this sale can be found here. Insiders sold a total of 33,400 shares of company stock valued at $669,400 over the last quarter. 5.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis lifted its stake in 3D Systems by 802.8% during the 2nd quarter. Natixis now owns 191,193 shares of the 3D printing company’s stock valued at $2,640,000 after acquiring an additional 170,016 shares during the period. Royce & Associates LP lifted its stake in 3D Systems by 8.6% during the 2nd quarter. Royce & Associates LP now owns 797,487 shares of the 3D printing company’s stock valued at $11,013,000 after acquiring an additional 63,000 shares during the period. BlackRock Inc. lifted its stake in 3D Systems by 29.4% during the 2nd quarter. BlackRock Inc. now owns 16,413,577 shares of the 3D printing company’s stock valued at $226,672,000 after acquiring an additional 3,727,372 shares during the period. Principal Financial Group Inc. lifted its stake in 3D Systems by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 493,488 shares of the 3D printing company’s stock valued at $5,719,000 after acquiring an additional 7,565 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in 3D Systems by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,313,379 shares of the 3D printing company’s stock valued at $18,138,000 after acquiring an additional 71,725 shares during the period. Institutional investors and hedge funds own 71.12% of the company’s stock.

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.

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Analyst Recommendations for 3D Systems (NYSE:DDD)

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