Stratasys, Ltd. (SSYS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Stratasys, Ltd. (NASDAQ:SSYS) from a hold rating to a buy rating in a research report released on Friday. Zacks Investment Research currently has $26.00 price target on the technology company’s stock.
According to Zacks, “Stratasys is a manufacturer of in-office rapid prototyping (RP) and manufacturing systems and 3D printers. 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. The stock has underperformed the industry in the last one year.”
Other equities research analysts have also issued research reports about the company. Citigroup Inc. upgraded Stratasys from a neutral rating to a buy rating and cut their price target for the stock from $32.00 to $29.00 in a research note on Thursday, August 10th. FBR & Co reiterated a buy rating on shares of Stratasys in a research note on Wednesday, July 19th. BidaskClub lowered Stratasys from a strong-buy rating to a buy rating in a research note on Wednesday, August 2nd. Cowen and Company reiterated a hold rating and issued a $23.00 price target on shares of Stratasys in a research note on Sunday, September 17th. Finally, Loop Capital started coverage on Stratasys in a research note on Monday, July 24th. They issued a hold rating and a $24.00 price target for the company. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $23.77.
Shares of Stratasys (NASDAQ:SSYS) opened at 22.94 on Friday. The company’s 50-day moving average price is $22.72 and its 200 day moving average price is $23.82. Stratasys has a 1-year low of $16.37 and a 1-year high of $30.88. The company’s market cap is $1.21 billion.
Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $170.00 million during the quarter, compared to analyst estimates of $167.82 million. During the same quarter in the prior year, the business posted $0.12 EPS. Stratasys’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts predict that Stratasys will post $0.37 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings in shares of Stratasys by 64.7% in 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. Canada Pension Plan Investment Board lifted its holdings in shares of Stratasys by 742.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 32,905 shares of the technology company’s stock valued at $767,000 after acquiring an additional 29,000 shares during the last quarter. AXA lifted its holdings in shares of Stratasys by 34.4% in the 1st quarter. AXA now owns 561,397 shares of the technology company’s stock valued at $11,503,000 after acquiring an additional 143,741 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Stratasys by 28.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 71,225 shares of the technology company’s stock valued at $1,660,000 after acquiring an additional 15,812 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in shares of Stratasys by 25.6% in the 1st quarter. Primecap Management Co. CA now owns 6,291,000 shares of the technology company’s stock valued at $128,903,000 after acquiring an additional 1,281,000 shares during the last quarter. 67.04% of the stock is owned by hedge funds and other institutional investors.
Stratasys Company Profile
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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