Zacks Investment Research Upgrades Proto Labs Inc. (PRLB) to “Hold”
Proto Labs Inc. (NYSE:PRLB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
PRLB has been the subject of a number of other reports. FBR & Co reiterated a “buy” rating on shares of Proto Labs in a report on Monday, June 6th. Canaccord Genuity reiterated a “buy” rating and set a $65.00 price objective on shares of Proto Labs in a report on Friday, September 2nd. Dougherty & Co downgraded Proto Labs from a “buy” rating to a “sell” rating in a report on Wednesday, August 31st. Pacific Crest reiterated an “equal weight” rating on shares of Proto Labs in a report on Sunday, June 5th. Finally, TheStreet downgraded Proto Labs from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Proto Labs currently has an average rating of “Hold” and a consensus target price of $70.40.
Shares of Proto Labs (NYSE:PRLB) opened at 59.26 on Wednesday. The company has a market capitalization of $1.57 billion, a PE ratio of 34.27 and a beta of 0.51. The stock’s 50 day moving average price is $57.02 and its 200-day moving average price is $63.46. Proto Labs has a 52-week low of $50.50 and a 52-week high of $82.06.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.03. The firm had revenue of $75 million for the quarter, compared to the consensus estimate of $77.20 million. Proto Labs had a return on equity of 13.76% and a net margin of 15.82%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, analysts expect that Proto Labs will post $1.83 earnings per share for the current year.
In other Proto Labs news, insider Arthur R. Baker III acquired 3,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was bought at an average cost of $55.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the insider now directly owns 7,105 shares in the company, valued at approximately $390,775. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.48% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. FineMark National Bank & Trust boosted its stake in Proto Labs by 0.3% in the second quarter. FineMark National Bank & Trust now owns 1,988 shares of the company’s stock worth $114,000 after buying an additional 6 shares during the last quarter. Commerce Bank boosted its stake in Proto Labs by 0.8% in the second quarter. Commerce Bank now owns 6,595 shares of the company’s stock worth $380,000 after buying an additional 50 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Proto Labs by 1.9% in the second quarter. Suntrust Banks Inc. now owns 4,899 shares of the company’s stock worth $281,000 after buying an additional 89 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Proto Labs by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock worth $604,000 after buying an additional 100 shares during the last quarter. Finally, PineBridge Investments L.P. boosted its stake in Proto Labs by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,003 shares of the company’s stock worth $173,000 after buying an additional 121 shares during the last quarter.
Proto Labs Company Profile
Proto Labs, Inc is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers.
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