Stratasys, Ltd. (SSYS) Downgraded by Zacks Investment Research
Stratasys, Ltd. (NASDAQ:SSYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Stratasys is one of the leading 3D printing solution providers. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. The company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright. Data from the Wohlers Report revealed that the worldwide 3D printing industry is projected to grow from $3.07 billion in 2013 to $12.8 billion by 2018, and exceed $21 billion by 2020 at a CAGR of 34%. However, the company’s tepid outlook for 2017 makes us slightly cautious about its near-term prospect. Moreover, some customers are delaying their purchases owing to the current economic conditions. Noatbly, the stock has underperformed the broader market over the last one year.”
A number of other brokerages have also recently commented on SSYS. Susquehanna Bancshares Inc initiated coverage on shares of Stratasys in a research report on Thursday, July 13th. They set a “neutral” rating and a $22.00 price target on the stock. William Blair cut shares of Stratasys from a “market perform” rating to an “underperform” rating in a research report on Monday, May 15th. Standpoint Research cut shares of Stratasys from a “buy” rating to a “reduce” rating in a research report on Monday, April 24th. Jefferies Group LLC cut shares of Stratasys from a “buy” rating to a “hold” rating and upped their price target for the company from $24.00 to $30.00 in a research report on Thursday, May 18th. Finally, Piper Jaffray Companies raised shares of Stratasys from a “neutral” rating to an “overweight” rating and upped their price target for the company from $21.00 to $28.00 in a research report on Monday, April 17th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.65.
Stratasys (SSYS) traded up 1.0633% on Tuesday, reaching $23.9621. The company’s stock had a trading volume of 311,930 shares. The firm has a 50-day moving average price of $27.39 and a 200 day moving average price of $22.32. Stratasys has a 52-week low of $16.37 and a 52-week high of $30.88. The firm’s market capitalization is $1.26 billion.
Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Tuesday, May 16th. The technology company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. The business had revenue of $163.20 million for the quarter, compared to analysts’ expectations of $162.38 million. Stratasys had a negative net margin of 10.17% and a negative return on equity of 0.03%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Equities analysts anticipate that Stratasys will post $0.28 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Stratasys by 1.0% in the second quarter. Fisher Asset Management LLC now owns 3,098,571 shares of the technology company’s stock worth $72,228,000 after buying an additional 31,339 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Stratasys by 3,083.7% in the second quarter. Bank of Montreal Can now owns 131,170 shares of the technology company’s stock worth $3,057,000 after buying an additional 127,050 shares during the last quarter. Lapides Asset Management LLC increased its stake in shares of Stratasys by 5.7% in the first quarter. Lapides Asset Management LLC now owns 730,400 shares of the technology company’s stock worth $14,966,000 after buying an additional 39,700 shares during the last quarter. State Street Corp increased its stake in shares of Stratasys by 2.1% in the first quarter. State Street Corp now owns 828,339 shares of the technology company’s stock worth $16,974,000 after buying an additional 17,163 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Stratasys during the first quarter worth about $870,000. Institutional investors own 67.16% of the company’s stock.
Stratasys Company Profile
Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.
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