Proto Labs (NYSE:PRLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, January 4th. The brokerage presently has a $115.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.95% from the company’s current price.
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. “
Several other research firms have also issued reports on PRLB. BidaskClub lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Craig Hallum set a $92.00 target price on shares of Proto Labs and gave the company a “hold” rating in a report on Monday, November 27th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $84.00 price objective on shares of Proto Labs in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $84.00.
Proto Labs (NYSE:PRLB) opened at $105.55 on Thursday. The stock has a market capitalization of $2,840.00, a PE ratio of 59.97, a PEG ratio of 2.31 and a beta of 1.07. Proto Labs has a 12 month low of $48.00 and a 12 month high of $109.10.
Proto Labs (NYSE:PRLB) last issued 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 net margin of 14.53% and a return on equity of 11.63%. The business had revenue of $88.10 million during the quarter, compared to analyst estimates of $85.68 million. During the same period last year, the business posted $0.51 earnings per share. Proto Labs’s quarterly revenue was up 12.7% compared to the same quarter last year. equities analysts predict that Proto Labs will post 1.89 EPS for the current fiscal year.
In related news, VP Robert Bodor sold 4,000 shares of Proto Labs stock in a transaction on Monday, December 11th. The shares were sold at an average price of $94.79, for a total transaction of $379,160.00. Following the transaction, the vice president now owns 20,578 shares in the company, valued at approximately $1,950,588.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rainer Gawlick sold 500 shares of Proto Labs 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 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 ninety days, insiders sold 19,556 shares of company stock valued at $1,814,101. 7.78% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRLB. Janus Henderson Group PLC lifted its stake in shares of Proto Labs by 411.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,301,429 shares of the industrial products company’s stock valued at $87,521,000 after buying an additional 1,046,960 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Proto Labs by 15,548.3% in the 3rd quarter. Victory Capital Management Inc. now owns 363,509 shares of the industrial products company’s stock worth $29,190,000 after purchasing an additional 361,186 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Proto Labs in the 2nd quarter worth $21,351,000. Bank of New York Mellon Corp lifted its stake in Proto Labs by 44.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 498,198 shares of the industrial products company’s stock worth $33,504,000 after purchasing an additional 152,637 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Proto Labs in the 2nd quarter worth $6,542,000.
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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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