Proto Labs (NYSE:PRLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.
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 several other research reports. BidaskClub lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. Piper Jaffray Companies restated a “hold” rating and set a $84.00 price target on shares of Proto Labs in a research note on Thursday, December 14th. Finally, Craig Hallum set a $92.00 price target on shares of Proto Labs and gave the stock a “hold” rating in a research note on Monday, November 27th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $85.25.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The firm had revenue of $88.10 million during the quarter, compared to analyst estimates of $85.68 million. Proto Labs had a net margin of 14.53% and a return on equity of 11.63%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. analysts expect that Proto Labs will post 1.89 earnings per share for the current year.
In other news, Director Rainer Gawlick sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $90.31, for a total transaction of $135,465.00. Following the completion of the sale, the director now owns 6,925 shares in the company, valued at approximately $625,396.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John B. Tumelty sold 13,556 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $92.07, for a total transaction of $1,248,100.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,556 shares of company stock valued at $1,814,101. 7.78% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRLB. Janus Henderson Group PLC boosted its holdings in Proto Labs by 411.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,301,429 shares of the industrial products company’s stock worth $87,521,000 after buying an additional 1,046,960 shares during the period. Victory Capital Management Inc. boosted its holdings in Proto Labs by 15,548.3% in the 3rd quarter. Victory Capital Management Inc. now owns 363,509 shares of the industrial products company’s stock worth $29,190,000 after buying an additional 361,186 shares during the period. Lord Abbett & CO. LLC bought a new position in Proto Labs in the 2nd quarter worth approximately $21,351,000. Gs Investments Inc. bought a new position in Proto Labs in the 2nd quarter worth approximately $6,158,000. Finally, Ameriprise Financial Inc. boosted its holdings in Proto Labs by 52.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 266,062 shares of the industrial products company’s stock worth $17,891,000 after buying an additional 91,072 shares during the period.
ILLEGAL ACTIVITY WARNING: “Proto Labs (PRLB) Downgraded by Zacks Investment Research” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/20/proto-labs-prlb-downgraded-by-zacks-investment-research.html.
Proto Labs Company Profile
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Proto Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proto Labs and related companies with MarketBeat.com's FREE daily email newsletter.