Proto Labs Inc. (NYSE:PRLB) Given Consensus Rating of “Hold” by Analysts
Shares of Proto Labs Inc. (NYSE:PRLB) have earned an average rating of “Hold” from the nine brokerages that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $68.00.
A number of brokerages have recently issued reports on PRLB. Dougherty & Co downgraded Proto Labs from a “buy” rating to a “sell” rating in a research note on Wednesday, August 31st. Zacks Investment Research downgraded Proto Labs from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 15th. Canaccord Genuity reissued a “buy” rating and set a $65.00 target price on shares of Proto Labs in a research note on Friday, September 2nd. Finally, TheStreet downgraded Proto Labs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th.
Proto Labs (NYSE:PRLB) traded down 0.85% during trading on Thursday, reaching $58.20. The company’s stock had a trading volume of 151,220 shares. The company has a market capitalization of $1.54 billion, a PE ratio of 33.66 and a beta of 0.49. Proto Labs has a 52 week low of $50.50 and a 52 week high of $82.06. The company has a 50 day moving average price of $56.93 and a 200-day moving average price of $62.91.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $75 million for the quarter, compared to analysts’ expectations of $77.20 million. Proto Labs had a net margin of 15.82% and a return on equity of 13.76%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts anticipate that Proto Labs will post $1.83 earnings per share for the current year.
In other news, insider Arthur R. Baker III acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was purchased at an average cost of $55.00 per share, with a total value of $165,000.00. Following the purchase, the insider now directly owns 7,105 shares of the company’s stock, valued at approximately $390,775. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.48% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in PRLB. BlackRock Institutional Trust Company N.A. increased its position in Proto Labs by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 583,668 shares of the company’s stock valued at $44,995,000 after buying an additional 2,958 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Proto Labs by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 349,298 shares of the company’s stock worth $20,105,000 after buying an additional 2,793 shares during the period. BlackRock Group LTD boosted its stake in shares of Proto Labs by 282.8% in the first quarter. BlackRock Group LTD now owns 26,602 shares of the company’s stock worth $2,051,000 after buying an additional 19,653 shares during the period. LPL Financial LLC boosted its stake in shares of Proto Labs by 184.7% in the first quarter. LPL Financial LLC now owns 31,242 shares of the company’s stock worth $2,421,000 after buying an additional 20,270 shares during the period. Finally, Quantitative Investment Management LLC bought a new stake in shares of Proto Labs during the second quarter worth approximately $1,277,000.
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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