NEW YORK (TheStreet) -- Shares of 3D Systems Corp. (DDD) are higher by 2.79% to $48.17 in mid-morning trading on Wednesday after the company announced it purchased Laser Reproductions Inc., a privately held provider of advanced manufacturing product development and engineering services.
The 3D printing company did not disclose terms of the acquisition but said it expects the transaction to be "immediately accretive" to 3D Systems' cash generation and add to its non-GAAP earnings within the first year.
"This acquisition further enhances our on-demand, quick-turn cloud manufacturing services and drives accelerated adoption of our solutions through meaningful new customer relationships," the company said.
Must Read: Warren Buffett's 25 Favorite Stocks
Separately, TheStreet Ratings team rates 3D SYSTEMS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate 3D SYSTEMS CORP (DDD) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and premium valuation."