Norges Bank purchased a new stake in shares of Proto Labs, Inc. (NYSE:PRLB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 421,175 shares of the industrial products company’s stock, valued at approximately $64,608,000. Norges Bank owned approximately 1.53% of Proto Labs at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Valeo Financial Advisors LLC grew its holdings in Proto Labs by 7.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $115,000 after buying an additional 50 shares in the last quarter. Creative Planning lifted its stake in Proto Labs by 5.1% during the fourth quarter. Creative Planning now owns 2,101 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 102 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in Proto Labs by 5.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 2,263 shares of the industrial products company’s stock worth $347,000 after purchasing an additional 114 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Proto Labs by 0.3% in the third quarter. California State Teachers Retirement System now owns 40,454 shares of the industrial products company’s stock valued at $5,239,000 after acquiring an additional 137 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of Proto Labs in the fourth quarter valued at $31,000.
Proto Labs stock opened at $110.93 on Wednesday. Proto Labs, Inc. has a 12-month low of $74.42 and a 12-month high of $286.57. The stock has a market capitalization of $3.07 billion, a PE ratio of 52.82 and a beta of 1.96. The firm has a 50 day simple moving average of $128.52 and a 200-day simple moving average of $151.09.
Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Thursday, February 11th. The industrial products company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Proto Labs had a net margin of 12.80% and a return on equity of 9.41%. The business had revenue of $105.20 million during the quarter, compared to the consensus estimate of $102.45 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Proto Labs, Inc. will post 1.84 earnings per share for the current year.
A number of equities analysts recently issued reports on the company. Craig Hallum raised their price target on Proto Labs from $105.00 to $167.00 in a report on Wednesday, January 20th. TheStreet downgraded Proto Labs from a “b-” rating to a “c+” rating in a research report on Tuesday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Tuesday, February 16th. Benchmark boosted their price objective on shares of Proto Labs from $165.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 22nd. Finally, Zacks Investment Research upgraded shares of Proto Labs from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 31st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $184.00.
About Proto Labs
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.
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