3D Systems (NYSE:DDD)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Tuesday. They currently have a $52.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 2.40% from the stock’s previous close.
Zacks’ analyst wrote, “3D Systems is a leading player in the 3D printing industry. The first-quarter results were encouraging as the company reported better-than-expected sales on the back of solid performances from design and manufacturing printers. Moreover, the upward revision of the revenue outlook is a positive. Although the company’s current phase of investments is expected to impact margins in the short run, product launches and global expansion will help 3D Systems to generate incremental sales over the long term. Also, the acquisition of Medical Modeling is expected to spur growth and expand its installed base in the highly potential MedTech sector. We initiate our coverage on 3D Systems with a Neutral recommendation and set a target price of $52.00.”
In other 3D Systems news, EVP Charles Hull sold 7,500 shares of 3D Systems stock on the open market in a transaction dated Monday, May 19th. The shares were sold at an average price of $48.78, for a total value of $365,850.00. Following the completion of the sale, the executive vice president now directly owns 136,500 shares in the company, valued at approximately $6,658,470. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of 3D Systems (NYSE:DDD) traded up 5.61% during mid-day trading on Tuesday, hitting $53.63. The stock had a trading volume of 2,413,348 shares. 3D Systems has a one year low of $41.05 and a one year high of $97.28. The stock has a 50-day moving average of $49.90 and a 200-day moving average of $69.30. The company has a market cap of $5.551 billion and a price-to-earnings ratio of 119.48.
3D Systems (NYSE:DDD) last released its earnings data on Tuesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $147.76 million for the quarter, compared to the consensus estimate of $145.50 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts expect that 3D Systems will post $0.82 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest reiterated an “outperform” rating on shares of 3D Systems in a research note on Thursday, May 15th. They now have a $65.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of 3D Systems from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of 3D Systems from $43.50 to $40.00 in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $73.21.
3D Systems Corporation (NYSE:DDD) is a holding company that operates through subsidiaries in the United States, Europe and the Asia-Pacific region.
To view Zacks’ full report, visit Zacks’ official website.
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