Zacks Investment Research upgraded shares of Proto Labs (NYSE:PRLB) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $119.00 price target 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 research analysts also recently issued reports on the stock. Piper Jaffray Companies restated a hold rating and set a $84.00 target price on shares of Proto Labs in a research report on Thursday, December 14th. Craig Hallum set a $92.00 target price on shares of Proto Labs and gave the company a hold rating in a research report on Monday, November 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Proto Labs has an average rating of Hold and a consensus target price of $85.00.
Proto Labs (PRLB) opened at $115.75 on Thursday. Proto Labs has a 52-week low of $48.00 and a 52-week high of $116.70. The stock has a market cap of $3,084.27, a PE ratio of 59.97, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08.
Proto Labs (NYSE:PRLB) last released its earnings results on Thursday, February 8th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating 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 company had revenue of $94.18 million for the quarter, compared to the consensus estimate of $92.20 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue was up 30.2% compared to the same quarter last year. equities research analysts forecast that Proto Labs will post 2.53 EPS for the current year.
In other news, VP Robert Bodor sold 1,891 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $106.00, for a total value of $200,446.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Goodman sold 2,715 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.79, for a total value of $289,934.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,162 shares of company stock valued at $2,304,482. 7.78% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake 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 valued at $132,000 after acquiring an additional 544 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $142,000 after acquiring an additional 471 shares during the last quarter. Shelton Capital Management bought a new stake in shares of Proto Labs in the 4th quarter valued at about $225,000. LS Investment Advisors LLC increased its stake in shares of Proto Labs by 143.8% in the 4th quarter. LS Investment Advisors LLC now owns 2,309 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 1,362 shares during the last quarter. Finally, Hengehold Capital Management LLC bought a new stake in shares of Proto Labs in the 4th quarter valued at about $254,000.
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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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