Lake Street Capital assumed coverage on shares of 3D Systems Corp. (NYSE:DDD) in a research report released on Tuesday. The firm issued a buy rating on the 3D printing company’s stock.
“revolutionary” multilayer circuit board printer, the DragonFly 2020, as the reason for their positive rating. The 3D printer will give engineers the ability to print multilayer printed circuit boards on-site, and in hours, while previously the work would need to be sent to a third party. “While currently in the development stage,” explained Martinuzzi, “our research indicates the company has a sizable market opportunity and relatively little competition.”Related Link: Benzinga’s Top InitiationsNano Dimension delivered two beta systems in recent months that are expected to be running by the fourth quarter this year, said the analyst. While traditional 3D printing companies 3D Systems Corporation (NYSE: DDD) and Stratasys, Ltd. (NASDAQ: SSYS) are showing declines in revenue, more specialized companies like Arcam and SLM Solutions, who incorporate 3D printing into the steel industry are seeing growth of 26 percent and 38 percent, explained the analyst.”Similarly, Nano Dimension represents a new disruption in a previously-unpenetrated end market for 3D printing,” said Martinuzzi. “After what we expect to be a market-seeding year in 2017, we are forecasting nearly 300 percent growth for Nano Dimension in 2018.,” the firm’s analyst commented.
Several other research analysts have also commented on the company. Vetr upgraded 3D Systems Corp. from a sell rating to a buy rating and set a $17.50 target price for the company in a research report on Monday. Needham & Company LLC reiterated a hold rating on shares of 3D Systems Corp. in a research report on Tuesday, September 13th. Bank of America Corp. set a $25.00 target price on 3D Systems Corp. and gave the stock a buy rating in a research 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 research report on Tuesday, September 13th. Finally, Pacific Crest reiterated a hold rating on shares of 3D Systems Corp. in a research report on Tuesday, September 13th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. 3D Systems Corp. has a consensus rating of Hold and a consensus target price of $14.50.
Shares of 3D Systems Corp. (NYSE:DDD) traded up 1.313% during midday trading on Tuesday, reaching $17.365. The company’s stock had a trading volume of 1,242,261 shares. The company’s 50-day moving average price is $15.72 and its 200 day moving average price is $14.65. The firm’s market capitalization is $1.95 billion. 3D Systems Corp. has a 1-year low of $6.00 and a 1-year high of $19.76.
3D Systems Corp. (NYSE:DDD) last issued its earnings results on Wednesday, August 3rd. The 3D printing company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. The company earned $158.10 million during the quarter, compared to analyst estimates 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 business’s revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. On average, equities research analysts forecast that 3D Systems Corp. will post $0.39 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC bought a new stake in shares of 3D Systems Corp. during the second quarter worth $172,000. M&T Bank Corp boosted its position in 3D Systems Corp. by 5.5% in the first quarter. M&T Bank Corp now owns 11,773 shares of the 3D printing company’s stock valued at $182,000 after buying an additional 612 shares in the last quarter. Teacher Retirement System of Texas boosted its position in 3D Systems Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 14,771 shares of the 3D printing company’s stock valued at $202,000 after buying an additional 1,805 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in 3D Systems Corp. by 14.5% in the second quarter. Thrivent Financial for Lutherans now owns 15,070 shares of the 3D printing company’s stock valued at $206,000 after buying an additional 1,910 shares in the last quarter. Finally, Advisor Group Inc. acquired a new position in 3D Systems Corp. during the second quarter valued at $211,000. 50.16% of the stock is owned by 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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