Proto Labs (NYSE:PRLB) Downgraded by Zacks Investment Research

Proto Labs (NYSE:PRLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, January 20th.

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. “

A number of other research analysts have also weighed in on PRLB. Craig Hallum set a $92.00 price objective on shares of Proto Labs and gave the company a “hold” rating in a research note on Monday, November 27th. BidaskClub lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $84.00 price target on shares of Proto Labs in a research report on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $86.50.

Shares of Proto Labs (NYSE:PRLB) opened at $105.75 on Friday. The firm has a market cap of $2,820.00, a price-to-earnings ratio of 54.79, a PEG ratio of 2.38 and a beta of 1.08. Proto Labs has a 12-month low of $48.00 and a 12-month high of $113.05.

Proto Labs (NYSE:PRLB) last issued its earnings results on Thursday, February 8th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The business had revenue of $94.18 million for the quarter, compared to analyst estimates of $92.20 million. Proto Labs had a net margin of 15.03% and a return on equity of 12.22%. Proto Labs’s revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. equities research analysts expect that Proto Labs will post 2.19 EPS for the current fiscal year.

In other news, VP John B. Tumelty sold 13,556 shares of Proto Labs stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rainer Gawlick sold 500 shares of Proto Labs 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 completion of the transaction, the director now owns 10,925 shares of the company’s stock, valued at approximately $1,122,543.75. The disclosure for this sale can be found here. Insiders have sold 19,556 shares of company stock worth $1,814,101 over the last three months. 7.78% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Proto Labs by 2.4% in the fourth quarter. BlackRock Inc. now owns 3,053,965 shares of the industrial products company’s stock worth $314,558,000 after purchasing an additional 72,731 shares in the last quarter. Vanguard Group Inc. grew its stake in Proto Labs by 2.7% during the second quarter. Vanguard Group Inc. now owns 2,176,051 shares of the industrial products company’s stock valued at $146,339,000 after acquiring an additional 56,724 shares in the last quarter. Janus Henderson Group PLC grew its stake 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 acquiring an additional 1,046,960 shares in the last quarter. New York State Common Retirement Fund grew its stake in Proto Labs by 2.1% during the third quarter. New York State Common Retirement Fund now owns 651,475 shares of the industrial products company’s stock valued at $52,313,000 after acquiring an additional 13,206 shares in the last quarter. Finally, State Street Corp grew its stake in Proto Labs by 5.2% during the second quarter. State Street Corp now owns 595,748 shares of the industrial products company’s stock valued at $40,063,000 after acquiring an additional 29,561 shares in 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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