Proto Labs (PRLB) Downgraded by Zacks Investment Research

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.

Shares of Proto Labs (NYSE PRLB) opened at $111.70 on Friday. The company has a market cap of $2,891.07, a PE ratio of 63.83, a price-to-earnings-growth ratio of 2.36 and a beta of 1.07. Proto Labs has a one year low of $48.00 and a one year high of $111.80.

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.

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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.

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