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

3D Systems (NYSE:DDDGet Rating) had its price objective reduced by Craig Hallum from $18.00 to $10.00 in a research note published on Wednesday morning, The Fly reports.

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

NYSE:DDD opened at $10.36 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 6.57 and a quick ratio of 5.27. 3D Systems has a 1 year low of $8.78 and a 1 year high of $41.48. The stock’s 50 day simple moving average is $14.13 and its two-hundred day simple moving average is $18.85. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 5.18 and a beta of 1.38.

3D Systems (NYSE:DDDGet Rating) last released its earnings results on Monday, May 9th. The 3D printing company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $133.00 million for the quarter, compared to the consensus estimate of $132.67 million. 3D Systems had a negative return on equity of 5.29% and a net margin of 41.50%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, analysts anticipate that 3D Systems will post -0.35 EPS for the current year.

In other news, CFO Jagtar Narula sold 5,863 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew Martin Johnson sold 4,000 shares of 3D Systems stock in a transaction that occurred on Tuesday, March 1st. The stock was 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. Insiders have sold 19,838 shares of company stock worth $328,804 in the last quarter. 3.45% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers grew its stake in shares of 3D Systems by 1.6% in the third quarter. Cetera Investment Advisers now owns 25,136 shares of the 3D printing company’s stock valued at $693,000 after buying an additional 406 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in 3D Systems by 0.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 49,356 shares of the 3D printing company’s stock worth $1,361,000 after purchasing an additional 440 shares in the last quarter. CIBC Asset Management Inc grew its stake in 3D Systems by 4.8% during the 3rd quarter. CIBC Asset Management Inc now owns 10,028 shares of the 3D printing company’s stock worth $276,000 after purchasing an additional 457 shares in the last quarter. California State Teachers Retirement System grew its stake in 3D Systems by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 167,871 shares of the 3D printing company’s stock worth $4,628,000 after purchasing an additional 577 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in 3D Systems by 0.3% during the 4th quarter. Alliancebernstein L.P. now owns 192,484 shares of the 3D printing company’s stock worth $4,146,000 after purchasing an additional 629 shares in the last quarter. Hedge funds and other 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.

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