Zacks Investment Research upgraded shares of Proto Labs (NYSE:PRLB) from a hold rating to a buy rating in a report published on Tuesday, January 23rd. They currently have $125.00 target price on the industrial products company’s stock.
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 equities analysts have also recently commented on PRLB. BidaskClub cut shares of Proto Labs from a strong-buy rating to a buy rating in a research note on Friday, October 6th. Craig Hallum set a $92.00 price target on shares of Proto Labs and gave the stock a hold rating in a research note on Monday, November 27th. Finally, Piper Jaffray Companies reissued a hold rating and issued a $84.00 price objective on shares of Proto Labs in a research report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Proto Labs currently has a consensus rating of Hold and a consensus target price of $86.50.
Proto Labs (PRLB) traded up $2.35 during mid-day trading on Tuesday, hitting $108.80. 187,395 shares of the company were exchanged, compared to its average volume of 172,906. Proto Labs has a 52-week low of $48.00 and a 52-week high of $113.05. The stock has a market cap of $2,817.80, a PE ratio of 56.37, a PEG ratio of 2.37 and a beta of 1.08.
Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. Proto Labs had a net margin of 15.03% and a return on equity of 12.22%. The firm had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $92.20 million. During the same period in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. analysts anticipate that Proto Labs will post 2.19 EPS for the current year.
In other Proto Labs news, VP John B. Tumelty sold 13,556 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rainer Gawlick sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $90.31, for a total transaction of $135,465.00. Following the completion of the sale, the director now directly owns 6,925 shares of the company’s stock, valued at approximately $625,396.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,556 shares of company stock valued at $1,814,101. 7.78% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Proto Labs by 73.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,280 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 544 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Proto Labs by 52.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,375 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 471 shares during the period. Pinebridge Investments L.P. lifted its position in shares of Proto Labs by 0.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,212 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 29 shares during the period. Shelton Capital Management purchased a new stake in shares of Proto Labs in the 4th quarter worth approximately $225,000. Finally, Advisor Group Inc. lifted its position in shares of Proto Labs by 3.6% in the 2nd quarter. Advisor Group Inc. now owns 3,409 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 119 shares during the period.
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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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