Zacks Investment Research Downgrades Proto Labs (PRLB) to Hold

Zacks Investment Research downgraded shares of Proto Labs (NYSE:PRLB) from a buy rating to a hold rating in a research report released on Friday.

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. “

A number of other research analysts have also recently commented on the company. Piper Jaffray Companies reissued a hold rating and issued a $84.00 price target on shares of Proto Labs in a report on Thursday, December 14th. Craig Hallum set a $92.00 price target on Proto Labs and gave the stock a hold rating in a report on Monday, November 27th. Finally, BidaskClub cut Proto Labs from a strong-buy rating to a buy rating in a report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $85.25.

Shares of Proto Labs (PRLB) traded up $2.05 during trading hours on Friday, hitting $109.35. The company had a trading volume of 96,600 shares, compared to its average volume of 118,811. The company has a market cap of $2,910.00, a P/E ratio of 62.13, a PEG ratio of 2.38 and a beta of 1.07. Proto Labs has a 52 week low of $48.00 and a 52 week high of $110.10.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The company had revenue of $88.10 million during the quarter, compared to the consensus estimate of $85.68 million. Proto Labs had a return on equity of 11.63% and a net margin of 14.53%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. sell-side analysts expect that Proto Labs will post 1.89 EPS for the current fiscal year.

In other news, Director Rainer Gawlick sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $102.75, for a total transaction of $51,375.00. Following the sale, the director now directly owns 10,925 shares of the company’s stock, valued at approximately $1,122,543.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert Bodor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $94.79, for a total value of $379,160.00. Following the sale, the vice president now directly owns 20,578 shares in the company, valued at $1,950,588.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,556 shares of company stock worth $1,814,101. 7.78% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. raised its holdings in shares of Proto Labs by 0.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,212 shares of the industrial products company’s stock worth $216,000 after acquiring an additional 29 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Proto Labs by 3.6% during the 2nd quarter. Advisor Group Inc. now owns 3,409 shares of the industrial products company’s stock worth $230,000 after acquiring an additional 119 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Proto Labs by 0.6% during the 2nd quarter. Teachers Advisors LLC now owns 45,180 shares of the industrial products company’s stock worth $3,038,000 after acquiring an additional 289 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Proto Labs by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,323 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 349 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Proto Labs by 9.1% during the 2nd quarter. Profund Advisors LLC now owns 4,317 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 360 shares in the last quarter.

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About Proto Labs

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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