Stratasys, Ltd. (SSYS) Downgraded by Zacks Investment Research to “Hold”
Stratasys, Ltd. (NASDAQ:SSYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Stratasys is a manufacturer of in-office rapid prototyping (RP) and manufacturing systems and 3D printers. We are positive about Stratasys’ turnaround strategies which include launching innovative products, strategic partnerships and acquisitions. 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, some customers are delaying their purchases owing to the current economic conditions. Going forward, competition from 3D Systems Corporation is also a potent headwind. The stock has underperformed the industry in the last one year.”
SSYS has been the topic of several other research reports. FBR & Co reissued a “buy” rating on shares of Stratasys in a report on Wednesday, July 19th. ValuEngine lowered Stratasys from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Citigroup Inc. raised Stratasys from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $32.00 to $29.00 in a report on Thursday, August 10th. BidaskClub lowered Stratasys from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $30.00 price objective on shares of Stratasys in a report on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.66.
Stratasys (NASDAQ:SSYS) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.01 by $0.16. The firm had revenue of $170.00 million for the quarter, compared to analyst estimates of $167.82 million. Stratasys had a positive return on equity of 0.29% and a negative net margin of 8.33%. Stratasys’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA grew its holdings in shares of Stratasys by 25.6% during the first quarter. Primecap Management Co. CA now owns 6,291,000 shares of the technology company’s stock worth $128,903,000 after buying an additional 1,281,000 shares during the last quarter. Fisher Asset Management LLC lifted its position in Stratasys by 1.0% in the second quarter. Fisher Asset Management LLC now owns 3,098,571 shares of the technology company’s stock valued at $72,228,000 after purchasing an additional 31,339 shares during the period. Bank of New York Mellon Corp lifted its position in Stratasys by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 1,958,373 shares of the technology company’s stock valued at $45,649,000 after purchasing an additional 37,740 shares during the period. Dimensional Fund Advisors LP lifted its position in Stratasys by 132.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,228,790 shares of the technology company’s stock valued at $28,645,000 after purchasing an additional 700,246 shares during the period. Finally, State Street Corp lifted its position in Stratasys by 6.5% in the second quarter. State Street Corp now owns 881,966 shares of the technology company’s stock valued at $20,559,000 after purchasing an additional 53,627 shares during the period. 67.04% of the stock is currently owned by hedge funds and other institutional investors.
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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