Proto Labs (NYSE:PRLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $120.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.74% from the company’s previous close.
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 analysts also recently weighed in on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $84.00 price objective on shares of Proto Labs in a research report on Thursday, December 14th. Craig Hallum set a $92.00 price objective on shares of Proto Labs and gave the company a “hold” rating in a research report on Monday, November 27th. Finally, BidaskClub downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.25.
Shares of Proto Labs (NYSE:PRLB) opened at $109.35 on Friday. The firm has a market cap of $2,910.00, a PE ratio of 62.13, a P/E/G ratio of 2.31 and a beta of 1.07. Proto Labs has a 52-week low of $48.00 and a 52-week high of $110.10.
Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The firm had revenue of $88.10 million for the quarter, compared to the consensus estimate of $85.68 million. Proto Labs had a net margin of 14.53% and a return on equity of 11.63%. Proto Labs’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. sell-side analysts expect that Proto Labs will post 1.89 EPS for the current year.
In other Proto Labs news, VP Robert Bodor sold 4,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $94.79, for a total transaction of $379,160.00. Following the sale, the vice president now directly owns 20,578 shares in the company, valued at approximately $1,950,588.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rainer Gawlick sold 500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $102.75, for a total transaction of $51,375.00. Following the sale, the director now owns 10,925 shares in the company, valued at $1,122,543.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,556 shares of company stock worth $1,814,101. 7.78% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in PRLB. Schwab Charles Investment Management Inc. grew its stake in shares of Proto Labs by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 105,104 shares of the industrial products company’s stock worth $7,069,000 after purchasing an additional 973 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Proto Labs by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 47,003 shares of the industrial products company’s stock worth $3,161,000 after purchasing an additional 4,744 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Proto Labs by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,323 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 349 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Proto Labs by 40.2% in the 2nd quarter. Prudential Financial Inc. now owns 58,200 shares of the industrial products company’s stock worth $3,914,000 after purchasing an additional 16,690 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Proto Labs by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 188,853 shares of the industrial products company’s stock worth $12,700,000 after purchasing an additional 3,351 shares during the last quarter.
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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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