Craig Hallum Trims 3D Systems (NYSE:DDD) Target Price to $10.00

3D Systems (NYSE:DDDGet Rating) had its target price trimmed by Craig Hallum from $18.00 to $10.00 in a report issued on Wednesday, The Fly reports.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. reduced their price target on 3D Systems from $22.00 to $18.00 and set an underweight rating for the company in a report on Tuesday, March 1st. B. Riley cut their price objective on 3D Systems from $24.00 to $22.00 and set a neutral rating on the stock in a research note on Tuesday, March 1st. Bank of America cut their price objective on 3D Systems from $23.00 to $12.00 in a research note on Tuesday. Lake Street Capital dropped their price target on 3D Systems from $36.00 to $29.00 and set a buy rating on the stock in a research report on Tuesday, March 1st. Finally, StockNews.com upgraded 3D Systems from a sell rating to a hold rating in a research report on Monday, May 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $20.43.

Shares of NYSE DDD opened at $10.36 on Wednesday. The stock has a market capitalization of $1.35 billion, a PE ratio of 5.18 and a beta of 1.38. The company has a quick ratio of 5.27, a current ratio of 6.57 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average of $14.13 and a 200-day moving average of $18.85. 3D Systems has a 52-week low of $8.78 and a 52-week high of $41.48.

3D Systems (NYSE:DDDGet Rating) last issued its quarterly earnings data on Monday, May 9th. The 3D printing company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. 3D Systems had a negative return on equity of 5.29% and a net margin of 41.50%. The company had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $132.67 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts expect that 3D Systems will post -0.35 EPS for the current fiscal year.

In related news, CFO Jagtar Narula sold 5,863 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $16.13, for a total value of $94,570.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Martin Johnson sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $20.00, for a total value of $80,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,838 shares of company stock worth $328,804. Corporate insiders own 3.45% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC bought a new stake in 3D Systems in the third quarter valued at $1,360,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in 3D Systems by 83.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,651,342 shares of the 3D printing company’s stock valued at $78,650,000 after acquiring an additional 1,662,200 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in 3D Systems by 30.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 277,109 shares of the 3D printing company’s stock valued at $6,130,000 after acquiring an additional 64,376 shares during the period. Commonwealth Equity Services LLC grew its position in 3D Systems by 137.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,428 shares of the 3D printing company’s stock valued at $892,000 after acquiring an additional 23,991 shares during the period. Finally, Royal Bank of Canada grew its position in 3D Systems by 3.9% in the third quarter. Royal Bank of Canada now owns 168,850 shares of the 3D printing company’s stock valued at $4,654,000 after acquiring an additional 6,408 shares during the period. Institutional investors own 69.13% of the company’s stock.

3D Systems Company Profile (Get Rating)

3D Systems Corporation, through its subsidiaries, provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.

Further Reading

The Fly logo

Analyst Recommendations for 3D Systems (NYSE:DDD)

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.