Zacks Investment Research Lowers Stratasys (SSYS) to Hold

Stratasys (NASDAQ:SSYS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Stratasys is one of the leading 3D printing solution providers. The stock has outperformed the broader market in the last one year period. 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. Notably, data from the MarketsandMarkets report 2017 revealed that the worldwide 3D printing industry is expected to grow at a CAGR of 25.76% through 2017 to 2023.  Nonetheless, we remain concerned about the company’s declining gross margin which has been impacted by the incremental sales generated from the lower-margin products of acquired businesses including MakerBot, Solid Concepts and Harvest Technologies.”

Several other equities research analysts have also issued reports on SSYS. UBS Group raised shares of Stratasys from a “neutral” rating to a “positive” rating in a research note on Friday, October 20th. B. Riley reissued a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Stratasys in a research note on Thursday, November 2nd. Susquehanna Bancshares upgraded shares of Stratasys from a “neutral” rating to a “positive” rating and set a $22.00 price target for the company in a report on Friday, October 20th. Citigroup set a $29.00 price target on shares of Stratasys and gave the stock a “buy” rating in a report on Wednesday, November 15th. Finally, Cowen restated a “hold” rating and set a $23.00 price target on shares of Stratasys in a report on Sunday, September 17th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Stratasys presently has an average rating of “Hold” and an average price target of $24.80.

Stratasys (NASDAQ:SSYS) traded down $0.06 during trading on Friday, reaching $21.14. The company’s stock had a trading volume of 559,300 shares, compared to its average volume of 498,100. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.82 and a current ratio of 3.58. The stock has a market capitalization of $1,120.00, a price-to-earnings ratio of -19.94, a P/E/G ratio of 3.85 and a beta of 1.41. Stratasys has a one year low of $17.63 and a one year high of $30.88.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. Stratasys had a positive return on equity of 0.62% and a negative net margin of 6.74%. The firm had revenue of $155.90 million during the quarter, compared to analyst estimates of $160.97 million. The company’s quarterly revenue was down .8% on a year-over-year basis. research analysts anticipate that Stratasys will post 0.17 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in SSYS. Baillie Gifford & Co. boosted its stake in Stratasys by 64.7% during the 2nd quarter. Baillie Gifford & Co. now owns 377,800 shares of the technology company’s stock valued at $8,807,000 after acquiring an additional 148,400 shares during the last quarter. AXA increased its stake in Stratasys by 38.1% during the 3rd quarter. AXA now owns 1,058,110 shares of the technology company’s stock valued at $24,464,000 after buying an additional 292,084 shares during the period. Nomura Holdings Inc. acquired a new position in Stratasys during the 2nd quarter valued at about $227,000. DekaBank Deutsche Girozentrale increased its stake in Stratasys by 18.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 97,500 shares of the technology company’s stock valued at $2,133,000 after buying an additional 15,500 shares during the period. Finally, Concourse Capital Management LLC acquired a new position in Stratasys during the 2nd quarter valued at about $515,000. 70.99% of the stock is currently owned by institutional investors.

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About Stratasys

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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