Unexpected CFO Departure Highlights Challenges Facing 3D Systems (DDD); Stifel Affirms at 'Hold'
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Rating Summary:
8 Buy, 18 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Stifel is commenting on Hold-rated 3D Systems (NYSE: DDD) following the unexpected departure of CFO Ted Hull earlier this morning.
Analyst Patrick Newton summarized: We anticipate investors will cautiously view this latest announcement from DDD due to the unexpected nature of the announcement and Mr. Hull’s brief 7 month tenure as CFO. We view the announcement as highlighting the challenges currently facing 3D Systems, specifically in channel management, managing aggressive new product introductions, and a combination of industry/company specific headwinds that are inhibiting organic growth. Additionally, in our opinion, the complexity of 3D Systems’ roll-up strategy could increase the challenges of managing and forecasting from a finance perspective.
For an analyst ratings summary and ratings history on 3D Systems click here. For more ratings news on 3D Systems click here.
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