3D Systems (NYSE:DDD) Price Target Lowered to $9.00 at Bank of America

3D Systems (NYSE:DDD) had its price objective lowered by Bank of America from $10.00 to $9.00 in a research report released on Wednesday, May 8th, BenzingaRatingsTable reports. Bank of America currently has an underperform rating on the 3D printing company’s stock.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their target price on 3D Systems to $8.00 and set an average rating for the company in a research note on Friday, March 1st. TheStreet upgraded 3D Systems from a d rating to a c- rating in a research note on Thursday, March 21st. Craig Hallum started coverage on 3D Systems in a research note on Monday, April 22nd. They issued a hold rating and a $12.00 target price for the company. Finally, Piper Jaffray Companies upgraded 3D Systems from a neutral rating to an overweight rating and set a $17.00 price objective for the company in a research note on Tuesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. 3D Systems currently has an average rating of Hold and a consensus price target of $12.83.

NYSE DDD opened at $8.09 on Wednesday. The company has a market capitalization of $947.53 million, a price-to-earnings ratio of -21.86 and a beta of 1.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.56 and a quick ratio of 1.78. 3D Systems has a fifty-two week low of $7.95 and a fifty-two week high of $21.78.

3D Systems (NYSE:DDD) last released its earnings results on Tuesday, May 7th. The 3D printing company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.13). The firm had revenue of $152.00 million during the quarter, compared to analysts’ expectations of $164.69 million. 3D Systems had a negative net margin of 7.26% and a negative return on equity of 6.26%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, research analysts expect that 3D Systems will post -0.35 earnings per share for the current year.

In other 3D Systems news, insider Vyomesh Joshi bought 29,920 shares of 3D Systems stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $8.22 per share, with a total value of $245,942.40. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in 3D Systems by 1.3% during the first quarter. BlackRock Inc. now owns 16,325,827 shares of the 3D printing company’s stock valued at $175,664,000 after purchasing an additional 214,616 shares in the last quarter. Vanguard Group Inc. lifted its position in 3D Systems by 2.5% during the third quarter. Vanguard Group Inc. now owns 11,080,845 shares of the 3D printing company’s stock valued at $209,428,000 after purchasing an additional 266,928 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in 3D Systems by 11.9% during the first quarter. ArrowMark Colorado Holdings LLC now owns 4,642,912 shares of the 3D printing company’s stock valued at $49,958,000 after purchasing an additional 491,991 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in 3D Systems by 45.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,080,102 shares of the 3D printing company’s stock valued at $31,324,000 after purchasing an additional 964,795 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in 3D Systems by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 1,382,491 shares of the 3D printing company’s stock valued at $26,129,000 after purchasing an additional 69,112 shares in the last quarter. 70.42% of the stock is owned by institutional investors.

3D Systems Company Profile

3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.

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Analyst Recommendations for 3D Systems (NYSE:DDD)

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