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Proto Labs (NASDAQ:PRLB) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Wednesday, StockRatingsNetwork reports.

The analysts wrote, “Proto Labs (PRLB) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.”

Separately, analysts at EVA Dimensions LLC upgraded shares of Proto Labs from a “hold” rating to an “overweight” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Proto Labs currently has an average rating of “Buy” and an average price target of $83.00.

Shares of Proto Labs (NASDAQ:PRLB) traded down 0.34% on Wednesday, hitting $79.34. The stock had a trading volume of 36,437 shares. Proto Labs has a 1-year low of $43.50 and a 1-year high of $89.97. The stock has a 50-day moving average of $77.02 and a 200-day moving average of $76.05. The company has a market cap of $2.024 billion and a price-to-earnings ratio of 58.54.

Proto Labs (NASDAQ:PRLB) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $44.00 million for the quarter, compared to the consensus estimate of $41.68 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts predict that Proto Labs will post $1.73 earnings per share for the current fiscal year.

In other Proto Labs news, Chairman Lawrence Lukis unloaded 1,000,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $76.00, for a total value of $76,000,000.00. Following the completion of the transaction, the chairman now directly owns 2,806,840 shares in the company, valued at approximately $213,319,840. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Proto Labs, Inc manufactures computer numerical control machined and plastic injection molded parts. The Company offers plastic injection molded parts, rapid tooling, plastic injection molding, rapid injection molding, rapid prototyping and prototype.

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