3D Systems Corporation (DDD) Stock Rating Upgraded by J P Morgan Chase & Co
3D Systems Corporation (NYSE:DDD) was upgraded by analysts at J P Morgan Chase & Co from an “underweight” rating to a “neutral” rating in a report released on Friday, MarketBeat.com reports. The brokerage presently has a $13.00 price target on the 3D printing company’s stock. J P Morgan Chase & Co’s price target would indicate a potential downside of 3.49% from the company’s previous close.
A number of other brokerages have also weighed in on DDD. Susquehanna Bancshares Inc started coverage on 3D Systems Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $16.00 target price for the company. FBR & Co reaffirmed a “hold” rating and set a $18.00 target price on shares of 3D Systems Corporation in a research report on Monday, May 15th. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 target price on shares of 3D Systems Corporation in a research report on Friday, May 26th. BidaskClub lowered 3D Systems Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Zacks Investment Research raised 3D Systems Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.41.
Shares of 3D Systems Corporation (NYSE:DDD) traded up 0.60% during midday trading on Friday, reaching $13.47. The company had a trading volume of 4,126,259 shares. The stock’s market capitalization is $1.42 billion. 3D Systems Corporation has a 1-year low of $12.34 and a 1-year high of $23.70. The firm’s 50 day moving average price is $19.05 and its 200-day moving average price is $17.54.
3D Systems Corporation (NYSE:DDD) last issued its earnings results on Wednesday, August 2nd. The 3D printing company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.04. The firm had revenue of $159.47 million for the quarter, compared to the consensus estimate of $163.01 million. 3D Systems Corporation had a negative net margin of 5.39% and a positive return on equity of 1.69%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Equities research analysts expect that 3D Systems Corporation will post $0.46 EPS for the current fiscal year.
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In related news, Director G Walter Loewenbaum II sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $22.29, for a total transaction of $557,250.00. Following the transaction, the director now directly owns 1,007,106 shares in the company, valued at approximately $22,448,392.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Kevin Mcalea sold 17,500 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $20.63, for a total value of $361,025.00. Following the transaction, the chief operating officer now owns 276,074 shares in the company, valued at $5,695,406.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,500 shares of company stock worth $2,221,425. 5.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of 3D Systems Corporation during the second quarter valued at $115,000. LS Investment Advisors LLC increased its position in shares of 3D Systems Corporation by 20.0% in the second quarter. LS Investment Advisors LLC now owns 8,714 shares of the 3D printing company’s stock valued at $163,000 after buying an additional 1,452 shares during the period. Trent Capital Management Inc. NC acquired a new position in shares of 3D Systems Corporation during the second quarter valued at $200,000. Concourse Capital Management LLC acquired a new position in shares of 3D Systems Corporation during the first quarter valued at $177,000. Finally, Advantus Capital Management Inc increased its position in shares of 3D Systems Corporation by 3.8% in the first quarter. Advantus Capital Management Inc now owns 13,764 shares of the 3D printing company’s stock valued at $206,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 54.56% of the company’s stock.
3D Systems Corporation 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.
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