Zacks Investment Research Upgrades Proto Labs (PRLB) to Buy

Proto Labs (NYSE:PRLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, January 4th. The brokerage currently has a $115.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.18% 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. “

A number of other brokerages have also recently issued reports on PRLB. Craig Hallum set a $92.00 target price on shares of Proto Labs and gave the company a “hold” rating in a report on Monday, November 27th. BidaskClub lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $84.00 price target on shares of Proto Labs in a research report on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $84.00.

Proto Labs (PRLB) traded up $1.75 during trading hours on Thursday, hitting $107.30. 184,000 shares of the company were exchanged, compared to its average volume of 121,588. The company has a market cap of $2,810.00, a PE ratio of 60.97, a PEG ratio of 2.31 and a beta of 1.07. Proto Labs has a 52 week low of $48.00 and a 52 week high of $109.10.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 EPS. Proto Labs’s revenue was up 12.7% on a year-over-year basis. research analysts expect that Proto Labs will post 1.89 EPS for the current fiscal year.

In other Proto Labs news, VP John B. Tumelty sold 13,556 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $92.07, for a total transaction of $1,248,100.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rainer Gawlick sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $90.31, for a total transaction of $135,465.00. Following the transaction, the director now directly owns 6,925 shares of the company’s stock, valued at $625,396.75. The disclosure for this sale can be found here. Insiders sold 19,556 shares of company stock valued at $1,814,101 over the last quarter. 7.78% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of PRLB. Janus Henderson Group PLC raised its stake in shares of Proto Labs by 411.4% during the second quarter. Janus Henderson Group PLC now owns 1,301,429 shares of the industrial products company’s stock valued at $87,521,000 after acquiring an additional 1,046,960 shares during the last quarter. Victory Capital Management Inc. raised its stake in Proto Labs by 15,548.3% in the third quarter. Victory Capital Management Inc. now owns 363,509 shares of the industrial products company’s stock worth $29,190,000 after buying an additional 361,186 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Proto Labs in the second quarter worth about $21,351,000. Bank of New York Mellon Corp raised its stake in Proto Labs by 44.2% in the second quarter. Bank of New York Mellon Corp now owns 498,198 shares of the industrial products company’s stock worth $33,504,000 after buying an additional 152,637 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in Proto Labs in the second quarter worth about $6,542,000.

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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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