Zacks Investment Research lowered shares of Stratasys, Ltd. (NASDAQ:SSYS) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “Stratasys is one of the leading 3D printing solution providers. The stock price has underperformed the broader market on a year-to-date basis, primarily due to its recently reported dismal third-quarter 2016 results. Difficult market conditions and lower-than-expected performance at its MakerBot business remains a headwind. Also, Stratasys’ downbeat guidance for 2016 was much disappointing. Nonetheless, the company’s sustained focus on launching new products and entering into strategic partnerships will drive long-term growth. Additionally, its efforts toward turning around MakerBot’s performance are encouraging. The initiatives will help Stratasys to gain more market share as the prospect of 3D printing industry appears bright.”

Other analysts have also recently issued reports about the stock. FBR & Co restated an outperform rating and set a $29.00 target price on shares of Stratasys in a report on Monday, October 3rd. Vetr cut shares of Stratasys from a strong-buy rating to a buy rating and set a $26.67 target price for the company. in a report on Wednesday, September 28th. Piper Jaffray Companies restated a neutral rating and set a $23.00 target price on shares of Stratasys in a report on Saturday, October 15th. Craig Hallum cut shares of Stratasys from a buy rating to a hold rating in a report on Tuesday, November 15th. Finally, Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $18.00 target price on shares of Stratasys in a report on Tuesday, December 13th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $22.00.

Shares of Stratasys (NASDAQ:SSYS) opened at 18.84 on Tuesday. The stock’s 50 day moving average price is $18.47 and its 200-day moving average price is $20.69. The firm’s market capitalization is $990.97 million. Stratasys has a 12-month low of $14.48 and a 12-month high of $30.46.

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A number of large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in Stratasys by 2.7% in the third quarter. Fisher Asset Management LLC now owns 3,195,757 shares of the company’s stock worth $76,986,000 after buying an additional 84,023 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Stratasys by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 2,195,916 shares of the company’s stock worth $52,900,000 after buying an additional 20,655 shares during the last quarter. Mairs & Power INC increased its stake in Stratasys by 2.9% in the third quarter. Mairs & Power INC now owns 1,296,563 shares of the company’s stock worth $31,234,000 after buying an additional 36,080 shares during the last quarter. BlackRock Fund Advisors increased its stake in Stratasys by 6.0% in the third quarter. BlackRock Fund Advisors now owns 1,231,362 shares of the company’s stock worth $29,664,000 after buying an additional 70,115 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in Stratasys by 4.1% in the third quarter. Douglas Lane & Associates LLC now owns 1,218,088 shares of the company’s stock worth $29,344,000 after buying an additional 48,029 shares during the last quarter. Institutional investors own 60.54% of the company’s stock.

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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