Zacks Investment Research Downgrades Proto Labs (PRLB) 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 Friday 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. “

Shares of Proto Labs stock opened at $124.68 on Friday. Proto Labs has a 12-month low of $82.93 and a 12-month high of $166.60. The company has a market cap of $3.36 billion, a PE ratio of 64.60, a P/E/G ratio of 2.12 and a beta of 1.46.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.21. Proto Labs had a return on equity of 14.31% and a net margin of 16.76%. The company had revenue of $115.43 million for the quarter, compared to analysts’ expectations of $112.53 million. On average, research analysts forecast that Proto Labs will post 2.79 earnings per share for the current year.

In related news, Director John B. Goodman sold 1,113 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $162.95, for a total value of $181,363.35. Following the sale, the director now owns 12,655 shares in the company, valued at approximately $2,062,132.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert Bodor sold 3,000 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the vice president now owns 22,755 shares in the company, valued at approximately $3,299,475. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,934 shares of company stock worth $3,663,441. Company insiders own 0.64% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Motley Fool Wealth Management LLC raised its stake in Proto Labs by 3.1% in the 2nd quarter. Motley Fool Wealth Management LLC now owns 63,056 shares of the industrial products company’s stock valued at $7,501,000 after acquiring an additional 1,888 shares during the period. Moody Aldrich Partners LLC bought a new stake in Proto Labs in the 2nd quarter valued at $1,425,000. Nwam LLC bought a new stake in Proto Labs in the 2nd quarter valued at $201,000. BlackRock Inc. raised its stake in Proto Labs by 13.5% in the 2nd quarter. BlackRock Inc. now owns 3,580,804 shares of the industrial products company’s stock valued at $425,936,000 after acquiring an additional 425,901 shares during the period. Finally, MetLife Investment Advisors LLC raised its stake in Proto Labs by 11.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 12,348 shares of the industrial products company’s stock valued at $1,469,000 after acquiring an additional 1,286 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.

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