3D Systems (DDD) Receives a Hold from B.Riley FBR

By Ryan Adsit

B.Riley FBR analyst Christopher Van Horn maintained a Hold rating on 3D Systems (DDDResearch Report) on September 13 and set a price target of $8. The company’s shares closed last Monday at $8.49, close to its 52-week low of $6.47.

Van Horn observed:

“We are transferring coverage of 3D Systems Corporation (DDD) to Chistopher Van Horn, due to a reallocation of resources, and maintaining our Neutral rating and 12-month price target of $8. We have seen improvement in DDD’s cost profile, but macro-level challenges are weighing on the company’s ability to drive growth and leverage fixed costs. A number of DDD-specific issues have weighed on the stock over the last two years, including new-product rollout issues and an export-compliance matter; and the company continues to see volatility in its printer price/mix. Overall, we think the challenges are mostly priced into the stock, but we do not see a clear path higher in light of end-market conditions and continued, intense competition in the industry.”

According to TipRanks.com, Horn is a 3-star analyst with an average return of 1.6% and a 49.4% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Crawford United Corporation Class A, Motorcar Parts Of America, and Standard Motor Products.

The word on The Street in general, suggests a Hold analyst consensus rating for 3D Systems with a $7.50 average price target.

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The company has a one-year high of $20.67 and a one-year low of $6.47. Currently, 3D Systems has an average volume of 1.44M.

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3D Systems Corp. is a holding company, which engages in the provision of comprehensive three dimensional printing solutions. It includes three dimensional printers, materials, software, on demand manufacturing services, and digital design tools. The company was founded by Charles W. Hull in 1986 and is headquartered in Rock Hill, SC.