Proto Labs (NYSE:PRLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $115.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.31% from the company’s current price.
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. “
Several other analysts have also recently weighed in on the stock. Piper Jaffray Companies reissued a “hold” rating and issued a $84.00 price objective on shares of Proto Labs in a research note on Thursday, December 14th. Craig Hallum set a $92.00 price target on shares of Proto Labs and gave the company a “hold” rating in a research report on Monday, November 27th. Finally, BidaskClub cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Proto Labs presently has an average rating of “Hold” and a consensus price target of $84.00.
Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.04. Proto Labs had a net margin of 14.53% and a return on equity of 11.63%. The company had revenue of $88.10 million for the quarter, compared to analysts’ expectations of $85.68 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Proto Labs’s revenue for the quarter was up 12.7% on a year-over-year basis. equities analysts anticipate that Proto Labs will post 1.89 earnings per share for the current fiscal year.
In other Proto Labs news, VP Robert Bodor sold 4,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $94.79, for a total transaction of $379,160.00. Following the sale, the vice president now owns 20,578 shares of the company’s stock, valued at $1,950,588.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John B. Tumelty sold 13,556 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were 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. Insiders have sold 19,056 shares of company stock worth $1,762,726 in the last ninety days. Insiders own 7.78% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. raised its holdings in shares of Proto Labs by 0.9% during the second quarter. Pinebridge Investments L.P. now owns 3,212 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 29 shares during the period. Advisor Group Inc. raised its holdings in shares of Proto Labs by 3.6% during the second quarter. Advisor Group Inc. now owns 3,409 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 119 shares during the period. Teachers Advisors LLC raised its holdings in shares of Proto Labs by 0.6% during the second quarter. Teachers Advisors LLC now owns 45,180 shares of the industrial products company’s stock valued at $3,038,000 after purchasing an additional 289 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Proto Labs by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,323 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 349 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of Proto Labs by 9.1% during the second quarter. Profund Advisors LLC now owns 4,317 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 360 shares during the period.
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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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