Proto Labs (PRLB) Upgraded to “Buy” by Zacks Investment Research

Proto Labs (NYSE:PRLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $119.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.38% from the stock’s previous close.

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. Piper Jaffray Companies restated a “hold” rating and issued a $84.00 price objective on shares of Proto Labs in a report on Thursday, December 14th. Craig Hallum set a $92.00 price objective on Proto Labs and gave the company a “hold” rating in a report on Monday, November 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $85.00.

Proto Labs (NYSE PRLB) opened at $108.80 on Thursday. Proto Labs has a 12 month low of $48.00 and a 12 month high of $113.05. The company has a market capitalization of $2,836.45, a price-to-earnings ratio of 56.37, a PEG ratio of 2.07 and a beta of 1.08.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. Proto Labs had a return on equity of 12.22% and a net margin of 15.03%. The company had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $92.20 million. During the same period in the prior year, the company earned $0.41 EPS. Proto Labs’s revenue was up 30.2% compared to the same quarter last year. equities analysts expect that Proto Labs will post 2.53 EPS for the current year.

In other Proto Labs news, VP Robert Bodor sold 4,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $94.79, for a total transaction of $379,160.00. Following the completion of the sale, the vice president now directly owns 20,578 shares in the company, valued at approximately $1,950,588.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John B. Tumelty sold 13,556 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $92.07, for a total value of $1,248,100.92. The disclosure for this sale can be found here. Insiders sold 24,162 shares of company stock valued at $2,304,482 over the last 90 days. 7.78% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Proto Labs by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,176,051 shares of the industrial products company’s stock worth $146,339,000 after acquiring an additional 56,724 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Proto Labs during the 3rd quarter worth about $915,000. Victory Capital Management Inc. grew its holdings in Proto Labs by 15,548.3% during the 3rd quarter. Victory Capital Management Inc. now owns 363,509 shares of the industrial products company’s stock worth $29,190,000 after acquiring an additional 361,186 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Proto Labs by 5.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 110,883 shares of the industrial products company’s stock worth $8,904,000 after acquiring an additional 5,779 shares during the period. Finally, FMR LLC acquired a new stake in Proto Labs during the 2nd quarter worth about $861,000.

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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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