Proto Labs, Inc. (PRLB) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Proto Labs, Inc. (NYSE:PRLB) from a hold rating to a buy rating in a report released on Friday. They currently have $96.00 price target on the industrial products company’s stock.
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. “
A number of other equities research analysts have also issued reports on PRLB. BidaskClub lowered Proto Labs from a strong-buy rating to a buy rating in a research report on Friday, October 6th. Piper Jaffray Companies restated a hold rating and issued a $67.00 price target on shares of Proto Labs in a research report on Friday, July 28th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $69.33.
Proto Labs (NYSE PRLB) traded up $0.60 during trading hours on Friday, reaching $85.70. The company’s stock had a trading volume of 66,904 shares, compared to its average volume of 143,409. Proto Labs has a 52 week low of $44.00 and a 52 week high of $89.95. The stock has a market cap of $2,267.56, a price-to-earnings ratio of 48.63, a P/E/G ratio of 2.28 and a beta of 1.03.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Proto Labs had a return on equity of 11.63% and a net margin of 14.53%. The company had revenue of $88.10 million during the quarter, compared to analyst estimates of $85.68 million. During the same period in the previous year, the business earned $0.51 EPS. Proto Labs’s quarterly revenue was up 12.7% on a year-over-year basis. equities research analysts anticipate that Proto Labs will post 1.9 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Proto Labs by 146,773.4% in the first quarter. BlackRock Inc. now owns 2,905,155 shares of the industrial products company’s stock valued at $148,453,000 after purchasing an additional 2,903,177 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Proto Labs by 2.7% in the second quarter. Vanguard Group Inc. now owns 2,176,051 shares of the industrial products company’s stock valued at $146,339,000 after purchasing an additional 56,724 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Proto Labs by 411.4% in the second quarter. Janus Henderson Group PLC now owns 1,301,429 shares of the industrial products company’s stock valued at $87,521,000 after purchasing an additional 1,046,960 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Proto Labs by 0.8% in the second quarter. New York State Common Retirement Fund now owns 638,269 shares of the industrial products company’s stock valued at $42,924,000 after purchasing an additional 4,934 shares in the last quarter. Finally, State Street Corp grew its position in shares of Proto Labs by 5.2% in the second quarter. State Street Corp now owns 595,748 shares of the industrial products company’s stock valued at $40,063,000 after purchasing an additional 29,561 shares in the last quarter.
Proto Labs Company Profile
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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