Proto Labs (PRLB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Proto Labs (NYSE:PRLB) from a buy rating to a hold rating in a research report released on Saturday morning.

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 issued reports on the company. Piper Jaffray Companies reissued a hold rating and issued a $84.00 price target on shares of Proto Labs in a research note on Thursday, December 14th. Craig Hallum set a $92.00 price target on Proto Labs and gave the company a hold rating in a research note on Monday, November 27th. Finally, BidaskClub downgraded Proto Labs from a strong-buy rating to a buy rating in a research note on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Proto Labs has an average rating of Hold and a consensus target price of $85.25.

Shares of Proto Labs (NYSE:PRLB) traded up $3.20 during trading on Friday, hitting $111.70. The stock had a trading volume of 179,331 shares, compared to its average volume of 108,545. The firm has a market capitalization of $2,976.36, a price-to-earnings ratio of 63.83, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Proto Labs has a twelve month low of $48.00 and a twelve month high of $111.80.

Proto Labs (NYSE:PRLB) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Proto Labs had a return on equity of 12.62% and a net margin of 15.00%. The company had revenue of $88.10 million for the quarter, compared to analyst estimates of $85.68 million. During the same period in the previous year, the firm earned $0.51 earnings per share. Proto Labs’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts expect that Proto Labs will post 1.89 earnings per share for the current fiscal year.

In related news, VP Robert Bodor sold 4,000 shares of Proto Labs stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $94.79, for a total value of $379,160.00. Following the sale, the vice president now owns 20,578 shares of the company’s stock, valued at $1,950,588.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rainer Gawlick sold 500 shares of Proto Labs stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $102.75, for a total value of $51,375.00. Following the completion of the sale, the director now directly 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 worth $1,814,101. 7.78% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in Proto Labs by 411.4% during 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. Victory Capital Management Inc. lifted its stake in shares of Proto Labs by 15,548.3% in the third quarter. Victory Capital Management Inc. now owns 363,509 shares of the industrial products company’s stock worth $29,190,000 after buying an additional 361,186 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Proto Labs in the second quarter worth approximately $21,351,000. Gs Investments Inc. bought a new position in shares of Proto Labs in the second quarter worth approximately $6,158,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Proto Labs by 52.0% in the second quarter. Ameriprise Financial Inc. now owns 266,062 shares of the industrial products company’s stock worth $17,891,000 after buying an additional 91,072 shares in the last quarter.

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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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