Zacks Investment Research Upgrades Proto Labs (PRLB) to “Buy”
Zacks Investment Research upgraded shares of Proto Labs (NYSE:PRLB) from a hold rating to a buy rating in a report published on Saturday. They currently have $120.00 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. “
Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies reiterated a hold rating and set a $84.00 price target on shares of Proto Labs in a report on Thursday, December 14th. Craig Hallum set a $92.00 price target on shares of Proto Labs and gave the stock a hold rating in a report on Monday, November 27th. Finally, BidaskClub lowered shares of Proto Labs from a strong-buy rating to a buy rating in a report on Friday, October 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Proto Labs presently has an average rating of Hold and an average target price of $85.25.
Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The company had revenue of $88.10 million for the quarter, compared to analyst estimates of $85.68 million. Proto Labs had a net margin of 14.53% and a return on equity of 11.63%. Proto Labs’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. equities research analysts expect that Proto Labs will post 1.89 earnings per share for the current fiscal year.
In related news, VP John B. Tumelty sold 13,556 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $92.07, for a total value of $1,248,100.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rainer Gawlick sold 500 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $102.75, for a total transaction of $51,375.00. Following the completion of the transaction, the director now owns 10,925 shares in the company, valued at approximately $1,122,543.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,556 shares of company stock worth $1,814,101. 7.78% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in PRLB. Schwab Charles Investment Management Inc. lifted its holdings in Proto Labs by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 105,104 shares of the industrial products company’s stock valued at $7,069,000 after buying an additional 973 shares during the period. Legal & General Group Plc raised its holdings in shares of Proto Labs by 11.2% during the second quarter. Legal & General Group Plc now owns 47,003 shares of the industrial products company’s stock valued at $3,161,000 after purchasing an additional 4,744 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Proto Labs by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,323 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 349 shares during the period. Prudential Financial Inc. raised its holdings in shares of Proto Labs by 40.2% during the second quarter. Prudential Financial Inc. now owns 58,200 shares of the industrial products company’s stock valued at $3,914,000 after purchasing an additional 16,690 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Proto Labs by 1.8% during the second quarter. Principal Financial Group Inc. now owns 188,853 shares of the industrial products company’s stock valued at $12,700,000 after purchasing an additional 3,351 shares during the period.
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About Proto Labs
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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