Zacks Investment Research Upgrades Proto Labs Inc. (PRLB) to “Hold”
Proto Labs Inc. (NYSE:PRLB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Proto Labs, Inc. is an online and technology-enabled quick-turn manufacturer of custom parts for prototyping and short-run production. It produces CNC machined and injection molded plastic parts. Proto Labs targets their services to product developers who use three-dimensional computer-aided design to develop products across a diverse range of end-markets. The Company has locations in the United States, the United Kingdom, Germany, Japan, Italy, France, and Spain. Proto Labs, Inc. is headquartered in Maple Plain, Minnesota. “
Other equities analysts have also recently issued research reports about the company. Pacific Crest reissued an “equal weight” rating on shares of Proto Labs in a research note on Sunday, June 5th. FBR & Co reissued a “buy” rating on shares of Proto Labs in a research note on Monday, June 6th. TheStreet cut Proto Labs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Canaccord Genuity reissued a “buy” rating and issued a $65.00 price target on shares of Proto Labs in a research note on Friday, September 2nd. Finally, Dougherty & Co cut Proto Labs from a “buy” rating to a “sell” rating in a research note on Wednesday, August 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Proto Labs presently has a consensus rating of “Hold” and a consensus target price of $70.40.
Proto Labs (NYSE:PRLB) opened at 59.26 on Wednesday. The firm has a market cap of $1.57 billion, a PE ratio of 34.27 and a beta of 0.51. The firm’s 50 day moving average price is $57.02 and its 200-day moving average price is $63.46. Proto Labs has a 52 week low of $50.50 and a 52 week high of $82.06.
Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.03. The company earned $75 million during the quarter, compared to analysts’ expectations of $77.20 million. Proto Labs had a return on equity of 13.76% and a net margin of 15.82%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. On average, analysts forecast that Proto Labs will post $1.83 EPS for the current year.
In other news, insider Arthur R. Baker III purchased 3,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was acquired at an average price of $55.00 per share, with a total value of $165,000.00. Following the purchase, the insider now owns 7,105 shares in the company, valued at approximately $390,775. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.48% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of PRLB. BlackRock Inc. raised its stake in Proto Labs by 20.8% in the second quarter. BlackRock Inc. now owns 1,926 shares of the company’s stock valued at $111,000 after buying an additional 332 shares during the period. FineMark National Bank & Trust raised its stake in Proto Labs by 0.3% in the second quarter. FineMark National Bank & Trust now owns 1,988 shares of the company’s stock valued at $114,000 after buying an additional 6 shares during the period. Tower Research Capital LLC TRC raised its stake in Proto Labs by 586.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,657 shares of the company’s stock valued at $153,000 after buying an additional 2,270 shares during the period. Advisor Group Inc. bought a new stake in Proto Labs during the second quarter valued at $167,000. Finally, PineBridge Investments L.P. raised its stake in Proto Labs by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,003 shares of the company’s stock valued at $173,000 after buying an additional 121 shares during the period.
About Proto Labs
Proto Labs, Inc is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers.
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