Zacks Investment Research upgraded shares of Proto Labs (NYSE:PRLB) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $134.00 price target on the industrial products company’s stock.
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. “
Shares of NYSE:PRLB opened at $124.11 on Thursday. The firm has a market capitalization of $3.36 billion, a P/E ratio of 64.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.46. Proto Labs has a 52 week low of $82.93 and a 52 week high of $166.60.
Proto Labs (NYSE:PRLB) last issued its earnings results on Thursday, October 25th. The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.21. The company had revenue of $115.43 million for the quarter, compared to analysts’ expectations of $112.53 million. Proto Labs had a net margin of 16.76% and a return on equity of 14.31%. As a group, analysts forecast that Proto Labs will post 2.79 earnings per share for the current year.
In other Proto Labs news, CFO John Way sold 8,000 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $159.10, for a total value of $1,272,800.00. Following the sale, the chief financial officer now owns 30,503 shares of the company’s stock, valued at approximately $4,853,027.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Arthur R. Baker III sold 3,474 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $154.81, for a total transaction of $537,809.94. Following the completion of the sale, the chief technology officer now directly owns 20,020 shares in the company, valued at approximately $3,099,296.20. The disclosure for this sale can be found here. In the last three months, insiders sold 23,934 shares of company stock worth $3,663,441. Insiders own 0.64% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Radnor Capital Management LLC grew its holdings in Proto Labs by 12.0% in the 3rd quarter. Radnor Capital Management LLC now owns 3,360 shares of the industrial products company’s stock worth $543,000 after acquiring an additional 360 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Proto Labs by 4.8% during the 3rd quarter. Aperio Group LLC now owns 9,831 shares of the industrial products company’s stock valued at $1,590,000 after purchasing an additional 454 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Proto Labs by 14.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,858 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 500 shares in the last quarter. Piedmont Investment Advisors LLC boosted its stake in shares of Proto Labs by 9.8% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 5,873 shares of the industrial products company’s stock valued at $699,000 after purchasing an additional 526 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Proto Labs by 4.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,926 shares of the industrial products company’s stock valued at $1,894,000 after purchasing an additional 670 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.
About Proto Labs
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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