|Over a week ago|
3D Systems appoints Wayne Pensky as interim CFO » 17:1705/1905/19/20
3D Systems (DDD)…
3D Systems (DDD) announced that Wayne Pensky, former CFO of Hexcel (HXL), has been appointed interim CFO, effective May 26. The company has initiated an executive search to identify a permanent replacement for Todd Booth, executive vice president and CFO, who has resigned from the company to pursue other opportunities. Pensky retired in 2017 after 24 years with Hexcel, a multinational manufacturer of advanced composite materials used in aerospace and industrial applications. He served as CFO for his last 10 years with the company, during which time Hexcel's revenue doubled to more than $2B and its net income grew nearly four-fold. Prior to that, he held a variety of financial leadership roles including head of Finance, Corporate Controller and Chief Accounting Officer.
3D Systems names Jeff Graves as CEO, succeeding Vyomesh Joshi » 08:3705/1405/14/20
3D Systems' (DDD)…
3D Systems' (DDD) Board of Directors named manufacturing CEO veteran Dr. Jeffrey Graves as the new President and CEO, effective May 26. Graves brings 17 years of CEO experience and a proven track record for leading, operating and growing technically complex businesses. He replaces Vyomesh Joshi, who announced his retirement in February. Graves joins 3D Systems from MTS Systems (MTSC) where he served as CEO for the past eight years. At MTS, Graves led a company transformation to clearly define and deploy a focused business strategy and streamlined operating model.
3D Systems price target lowered to $7 from $7.50 at Piper Sandler » 05:0105/0705/07/20
Piper Sandler analyst…
Piper Sandler analyst Troy Jensen lowered the firm's price target on 3D Systems to $7 from $7.50 and reiterates a Neutral rating on the shares. The company reported "decent" March quarter results, but COVID-19 implications will likely negatively impact this industry for most of 2020, Jensen tells investors in a research note. The 3D printing market is highly exposed to some of the verticals most impacted by COVID, such as auto, aerospace, elective healthcare and dental, while system and service bureau sales will be "extremely challenged" this year, says the analyst.
Fly Intel: After-Hours Movers » 19:1105/0605/06/20
FSLY, TWLO, TPC, PRTS, LYFT, AMOT, NUS, LNC, ANGI, PTON, RCII, PYPL, RTLR, IDN, TVTY, GDDY, CF, CDAY, FOXA, H, PPD, SAR, SEDG, SAVE, AYX, SONO, PING, DDD, LGND, CYTK, RUBI, GRUB, NDLS, ETSY, SRPT, ZNGA, TTGT, RNG, SQ, ALB, QTWO, RP
Check out this evening's…
3D Systems reports Q1 EPS (4c), consensus (5c) » 16:0505/0605/06/20
Reports Q1 revenue…
Reports Q1 revenue $134.71M, consensus $140.58M. "COVID-19 has presented unprecedented challenges globally, so we asked our customers and partners to help address these challenges with 3D printing. Over the last several weeks we have seen applications of our technology and software being used to assist COVID-19 efforts, from ventilator parts to personal protection equipment to nasal swabs, which are all able to go from prototype to production in mere days, compared to what would normally take months using traditional supply chain and showcasing our true value proposition," commented Vyomesh Joshi, president and CEO, 3D Systems. "Amid this uncertain environment we have managed the company by continuing to reduce expenses and preserving cash, and we believe we will be well-positioned when the market comes back."
|Over a month ago|
3D Systems' channel checks tracking 'weak', says Piper Sandler » 19:4704/2704/27/20
Piper Sandler analyst…
Piper Sandler analyst Troy Jensen keeps his Neutral rating and $7.50 price target on 3D Systems, saying his Q1 re-seller checks for the company suggest a 4th consecutive quarter of disappointing results. The analyst further cites 3D Systems' "significant exposure to automotive, aerospace, elective healthcare, and dental verticals", all of which are expected to be "challenging markets" amid the COVID-19 outbreak.
Stratasys, 3D Systems losing share amid new entrants, says JPMorgan » 09:2704/0604/06/20
The "fragmented" 3D printing industry continues to grow as entrants surge into the market with new system/material combinations, in some cases capturing share from both 3D Systems (DDD) and Stratasys (SSYS), JPMorgan analyst Paul Coster tells investors in a research note. The analyst says that while the two 3D pure-play stocks have pulled back significantly year-to-date in anticipation of headwinds, he does not see good prospects for a return to growth even longer term. Further, the valuation multiples are still not compelling, adds Coster, who keeps Underweight ratings on both 3D Systems and Stratasys.
3D Systems price target lowered to $7.50 from $12 at Piper Sandler » 05:3303/2403/24/20
Piper Sandler analyst…
Piper Sandler analyst Troy Jensen lowered the firm's price target on 3D Systems to $7.50 from $12 and reiterates a Neutral rating on the shares. Given the high price of 3D printers and the back-end loaded nature of quarterly system sales, 3D Systems and most of the industry will have struggles reaching sales goals in the first half of 2020, Jensen tells investors in a research note. Critical verticals such as aerospace, automotive, consumer products and other industrial segments are experiencing unprecedented demand levels and are likely to cut spending and preserve cash, says the analyst.
B. Riley FBR downgrades four names with exposure to auto manufacturers » 08:2303/1903/19/20
SUP, MEI, PRCP, DDD
Following news that many…
Following news that many auto manufacturers are halting production at plants in both North America and Europe, B. Riley FBR analyst Christopher Van Horn cut price targets and ratings for names with significant auto exposure in the two regions. The analyst downgraded Superior Industries (SUP), Methode Electronics (MEI) and Perceptron (PRCP) to Neutral from Buy. All three of these names get over 70% of their revenues from the auto manufacturers and exposure, both in North America and Europe, Van Horn tells investors in a research note. The analyst also downgraded 3D Systems (DDD) to Sell from Neutral on the belief that further downside from general industrial and automotive markets will impact demand for additive manufacturing technology.
3D Systems downgraded to Sell from Neutral at B. Riley FBR » 07:0603/1903/19/20
B. Riley FBR analyst…
B. Riley FBR analyst Christopher Van Horn downgraded 3D Systems to Sell from Neutral with a price target of $4, down from $10.