Prudential Financial Inc. cut its holdings in shares of Proto Labs Inc (NYSE:PRLB) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,374 shares of the industrial products company’s stock after selling 250 shares during the period. Prudential Financial Inc.’s holdings in Proto Labs were worth $5,032,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PRLB. Parallel Advisors LLC bought a new stake in Proto Labs during the first quarter worth approximately $34,000. Icon Wealth Partners LLC bought a new stake in Proto Labs during the first quarter worth approximately $57,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Proto Labs during the second quarter worth approximately $87,000. DekaBank Deutsche Girozentrale bought a new stake in Proto Labs during the first quarter worth approximately $109,000. Finally, Nisa Investment Advisors LLC raised its holdings in Proto Labs by 33.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,265 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 93.87% of the company’s stock.
Several equities research analysts recently commented on PRLB shares. Piper Jaffray Companies dropped their target price on Proto Labs from $92.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. ValuEngine raised Proto Labs from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research raised Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Proto Labs has a consensus rating of “Buy” and a consensus price target of $126.25.
Shares of NYSE PRLB traded up $1.34 during trading on Friday, hitting $110.80. The company had a trading volume of 3,426 shares, compared to its average volume of 180,052. The company has a market cap of $2.86 billion, a P/E ratio of 39.38, a PEG ratio of 1.33 and a beta of 1.65. Proto Labs Inc has a 52 week low of $88.75 and a 52 week high of $166.60. The business’s 50-day moving average is $97.76 and its 200 day moving average is $105.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.08 and a current ratio of 4.26.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $116.49 million. Proto Labs had a return on equity of 13.14% and a net margin of 15.71%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. On average, research analysts expect that Proto Labs Inc will post 2.5 EPS for the current year.
Proto Labs 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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