Stratasys, Ltd. (SSYS) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Stratasys, Ltd. (NASDAQ:SSYS) from a buy rating to a hold rating in a research 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. The stock has outperformed the industry on a year to date basis. 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.”
Several other equities analysts also recently commented on SSYS. Cowen and Company reaffirmed a market perform rating and issued a $23.00 target price (down previously from $27.00) on shares of Stratasys in a research report on Thursday, August 10th. BidaskClub downgraded Stratasys from a buy rating to a hold rating in a research report on Thursday, August 17th. Citigroup Inc. raised Stratasys from a neutral rating to a buy rating and decreased their target price for the company from $32.00 to $29.00 in a research report on Thursday, August 10th. Deutsche Bank AG decreased their target price on Stratasys from $31.00 to $25.00 and set a hold rating on the stock in a research report on Thursday, August 10th. Finally, FBR & Co reaffirmed an outperform rating and issued a $33.00 target price (up previously from $24.00) on shares of Stratasys in a research report on Wednesday, May 17th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $23.66.
Stratasys (NASDAQ SSYS) opened at 21.73 on Thursday. The firm’s market capitalization is $1.15 billion. The firm has a 50 day moving average price of $23.17 and a 200-day moving average price of $23.49. Stratasys has a 12 month low of $16.37 and a 12 month high of $30.88.
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. Stratasys had a positive return on equity of 0.29% and a negative net margin of 8.33%. The company had revenue of $170 million for the quarter, compared to the consensus estimate of $167.82 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts forecast that Stratasys will post $0.37 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in SSYS. AXA boosted its stake in Stratasys by 34.4% in the first quarter. AXA now owns 561,397 shares of the technology company’s stock valued at $11,503,000 after buying an additional 143,741 shares during the last quarter. Primecap Management Co. CA boosted its stake in Stratasys by 25.6% in the first quarter. Primecap Management Co. CA now owns 6,291,000 shares of the technology company’s stock valued at $128,903,000 after buying an additional 1,281,000 shares during the last quarter. Norges Bank acquired a new stake in Stratasys during the fourth quarter valued at $4,187,000. Westside Investment Management Inc. boosted its stake in Stratasys by 11.5% in the first quarter. Westside Investment Management Inc. now owns 39,525 shares of the technology company’s stock valued at $789,000 after buying an additional 4,070 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Stratasys by 28.2% in the first quarter. Russell Investments Group Ltd. now owns 47,446 shares of the technology company’s stock valued at $972,000 after buying an additional 10,446 shares during the last quarter. Hedge funds and other institutional investors own 67.04% of the company’s stock.
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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