3D Systems Co. (DDD) Stock Rating Reaffirmed by FBR & Co

FBR & Co reaffirmed their hold rating on shares of 3D Systems Co. (NYSE:DDD) in a report issued on Friday, May 5th. FBR & Co currently has a $18.00 price target on the 3D printing company’s stock.

“DDD shares continue to be fairly valued, in our opinion, although the longer-term opportunity set is beginning to come into clearer view, and recent cost-savings initiatives have proven beneficial to the P&L. We believe that 3D Systems can take a leading role in bringing additive manufacturing into multiple industry spaces with the modular and scalable Figure 4 platform. We think that the company is actively working with customers to bring the platform to market but that larger- capacity industries—such as major industrial OEMs—are likely to have a greater lead time than some of the lower-volume potential customers with which 3D is working (it has cited dental labs as an example). Meanwhile, cost initiatives are playing out, but soft spots remain in the quarter-to-quarter revenue stream: Printer revenue was down 4% YOY in 1Q17 due to weaker professional system numbers, and although the revenue decline has slowed relative to previous quarters, on-demand manufacturing services revenue was a 6% YOY decline. Generally speaking, we think that management’s vertical-focused strategy is a good one, but we are held back by nearer-term valuation and certain soft spots in growth.”,” FBR & Co’s analyst wrote.

Several other equities research analysts have also recently weighed in on DDD. Zacks Investment Research upgraded 3D Systems from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Tuesday, February 14th. Needham & Company LLC restated a hold rating on shares of 3D Systems in a research note on Tuesday, February 28th. Finally, Jefferies Group LLC boosted their target price on 3D Systems from $14.50 to $15.00 and gave the stock a hold rating in a research note on Wednesday, March 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $17.27.

3D Systems (NYSE:DDD) last posted its earnings results on Tuesday, February 28th. The 3D printing company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $165.90 million during the quarter, compared to analysts’ expectations of $176.76 million. 3D Systems had a positive return on equity of 4.14% and a negative net margin of 98.40%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share.

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In other news, Director G Walter Loewenbaum II sold 25,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $22.15, for a total value of $553,750.00. Following the sale, the director now directly owns 1,042,402 shares in the company, valued at $23,089,204.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Martin Johnson sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $14.70, for a total value of $58,800.00. Following the completion of the sale, the executive vice president now owns 251,666 shares in the company, valued at $3,699,490.20. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of 3D Systems by 23,856.2% in the first quarter. BlackRock Inc. now owns 11,328,150 shares of the 3D printing company’s stock valued at $169,471,000 after buying an additional 11,280,863 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 3D Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,610,984 shares of the 3D printing company’s stock valued at $128,820,000 after buying an additional 152,698 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of 3D Systems by 5.7% in the third quarter. BlackRock Fund Advisors now owns 6,028,844 shares of the 3D printing company’s stock valued at $108,218,000 after buying an additional 323,297 shares in the last quarter. State Street Corp raised its position in 3D Systems by 3.2% in the first quarter. State Street Corp now owns 3,329,492 shares of the 3D printing company’s stock valued at $49,800,000 after buying an additional 103,745 shares during the last quarter. Finally, Investment Management of Virginia LLC raised its position in 3D Systems by 5.5% in the first quarter. Investment Management of Virginia LLC now owns 1,697,859 shares of the 3D printing company’s stock valued at $25,400,000 after buying an additional 88,763 shares during the last quarter. Institutional investors and hedge funds own 50.68% of the company’s stock.

3D Systems Company Profile

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.

12 Month Chart for NYSE:DDD

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