TimesSquare Capital Management LLC grew its holdings in Proto Labs Inc (NYSE:PRLB) by 173.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 356,380 shares of the industrial products company’s stock after acquiring an additional 225,980 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Proto Labs were worth $41,347,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of PRLB. ARK Investment Management LLC grew its position in shares of Proto Labs by 273.5% in the first quarter. ARK Investment Management LLC now owns 291,222 shares of the industrial products company’s stock valued at $30,619,000 after purchasing an additional 213,256 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Proto Labs by 5,004.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 164,685 shares of the industrial products company’s stock worth $19,107,000 after buying an additional 161,459 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Proto Labs by 5,090.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 164,471 shares of the industrial products company’s stock worth $19,082,000 after buying an additional 161,302 shares in the last quarter. Pembroke Management LTD acquired a new stake in Proto Labs during the second quarter worth about $6,998,000. Finally, Summit Creek Advisors LLC acquired a new stake in Proto Labs during the second quarter worth about $6,872,000. 93.47% of the stock is currently owned by institutional investors.
PRLB traded up $3.08 during midday trading on Friday, reaching $96.41. 184,500 shares of the company’s stock were exchanged, compared to its average volume of 217,911. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 1.16 and a beta of 1.57. The company has a quick ratio of 4.08, a current ratio of 4.26 and a debt-to-equity ratio of 0.02. Proto Labs Inc has a one year low of $92.32 and a one year high of $166.60. The business has a 50-day simple moving average of $104.67 and a two-hundred day simple moving average of $107.46.
Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Proto Labs had a net margin of 15.71% and a return on equity of 13.14%. The firm had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $116.49 million. During the same quarter last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Proto Labs Inc will post 2.5 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on PRLB shares. Zacks Investment Research raised Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Thursday, August 1st. ValuEngine cut shares of Proto Labs from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Piper Jaffray Companies cut their price target on shares of Proto Labs from $92.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Proto Labs currently has a consensus rating of “Buy” and an average price target of $126.25.
Proto Labs Company Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven 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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