Stratasys, Ltd. (NASDAQ:SSYS), a leading global provider of 3D printing and additive manufacturing solutions, announced the addition of reseller, W.D. Distributing.
W.D. Distributing, the largest machine tool service organization in Oklahoma, will now be a reseller of the full line of Stratasys authorized products. W.D. Distributing has 35 years of experience working with customers on the manufacturing floor repairing and maintaining a variety of machine tools and production equipment.
“The addition of W.D. Distributing as a reseller into the Stratasys family is an important step in expanding our presence in manufacturing,” says Gilad Gans, President, Stratasys North America. “The combination of a leading organization such as W.D. and our world-class additive manufacturing technology will allow W.D. customers to gain a competitive advantage by streamlining workflows, becoming more agile with manufacturing processes and realizing tangible ROI by incorporating 3D printing on the manufacturing floor.”
“W.D. Distributing is pleased to now be on board with Stratasys. Our 35 years of quality service is now enhanced with the addition of being able to offer our customers a top-quality line of products in the 3D printing industry,” said Steve Daman, Service Manager of W.D. Distributing. “We see an opportunity to impact a manufacturing segment that has not yet seen the potential additive manufacturing can provide.” (Original Source)
Shares of Stratasys opened today at $37.31 and are currently trading down at $36.86. SSYS has a 1-year high of $130.83 and a 1-year low of $33.85. The stock’s 50-day moving average is $39.44 and its 200-day moving average is $62.96.
On the ratings front, Stratasys has been the subject of a number of recent research reports. In a report released today, Brean Murray Carret analyst Ananda Baruah maintained a Hold rating on SSYS. Separately, on June 5, FBR’s Ajay Kejriwal resumed coverage with a Hold rating on the stock and has a price target of $42.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ananda Baruah and Ajay Kejriwal have a total average return of -0.8% and -1.4% respectively. Baruah has a success rate of 42.6% and is ranked #2955 out of 3614 analysts, while Kejriwal has a success rate of 59.1% and is ranked #2936.
In total, 7 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $50.50 which is 35.4% above where the stock opened today.
Stratasys Ltd provides additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. It offers 3D printers and 3D production systems.