Proto Labs (PRLB) Lowered to “Hold” at Zacks Investment Research

Proto Labs (NYSE:PRLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

PRLB has been the topic of a number of other reports. BidaskClub cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. 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, Piper Jaffray Companies reissued a “hold” rating and set a $84.00 target price on shares of Proto Labs in a research report on Thursday, December 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Proto Labs has a consensus rating of “Hold” and an average price target of $79.25.

Proto Labs (NYSE:PRLB) opened at $100.85 on Wednesday. The firm has a market cap of $2,704.55, a P/E ratio of 57.63, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. Proto Labs has a 12-month low of $48.00 and a 12-month high of $109.10.

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

In related news, VP John B. Tumelty sold 13,556 shares of Proto Labs stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $92.07, for a total value of $1,248,100.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Bodor sold 4,000 shares of Proto Labs stock in a transaction on Monday, December 11th. The stock was sold at an average price of $94.79, for a total transaction of $379,160.00. Following the completion of the sale, the vice president now owns 20,578 shares of the company’s stock, valued at approximately $1,950,588.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,056 shares of company stock worth $1,762,726. Corporate insiders own 7.78% of the company’s stock.

Several large investors have recently modified their holdings of PRLB. California Public Employees Retirement System bought a new stake in shares of Proto Labs in the first quarter worth $230,000. Russell Investments Group Ltd. increased its stake in Proto Labs by 25.3% during the second quarter. Russell Investments Group Ltd. now owns 16,501 shares of the industrial products company’s stock valued at $1,110,000 after purchasing an additional 3,337 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Proto Labs by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 105,104 shares of the industrial products company’s stock valued at $7,069,000 after purchasing an additional 973 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Proto Labs by 20.8% during the second quarter. State of Wisconsin Investment Board now owns 41,500 shares of the industrial products company’s stock valued at $2,791,000 after purchasing an additional 7,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Proto Labs by 44.2% during the second quarter. Bank of New York Mellon Corp now owns 498,198 shares of the industrial products company’s stock valued at $33,504,000 after purchasing an additional 152,637 shares during 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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