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, January 13th. The brokerage presently has a $120.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.14% from the stock’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. “
Other equities analysts also recently issued reports about the company. Piper Jaffray Companies restated 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 target price on Proto Labs and gave the stock a “hold” rating in a research report on Monday, November 27th. Finally, BidaskClub downgraded Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $86.50.
Shares of Proto Labs (PRLB) traded down $1.60 during trading on Friday, hitting $108.95. The stock had a trading volume of 169,598 shares, compared to its average volume of 118,607. Proto Labs has a fifty-two week low of $48.00 and a fifty-two week high of $113.05. The stock has a market capitalization of $2,903.08, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08.
In related news, Director Rainer Gawlick sold 500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $102.75, for a total value of $51,375.00. Following the transaction, the director now owns 10,925 shares of the company’s stock, valued at $1,122,543.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert Bodor sold 4,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $94.79, for a total value of $379,160.00. Following the completion of the transaction, the vice president now directly owns 20,578 shares in the company, valued at approximately $1,950,588.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,556 shares of company stock worth $1,814,101. Insiders own 7.78% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Proto Labs by 52.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,375 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 471 shares during the last quarter. Victory Capital Management Inc. raised its stake in 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 acquiring an additional 349 shares during the last quarter. Hengehold Capital Management LLC purchased a new position in Proto Labs in the 4th quarter worth $254,000. Cubist Systematic Strategies LLC purchased a new position in Proto Labs in the 3rd quarter worth $238,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Proto Labs during the 3rd quarter worth about $243,000.
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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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