Proto Labs (PRLB) Cut to Sell at Zacks Investment Research

Proto Labs (NYSE:PRLB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

Other equities analysts have also issued reports about the stock. Northcoast Research initiated coverage on shares of Proto Labs in a research report on Wednesday, December 12th. They set a “buy” rating and a $145.00 price target on the stock. Berenberg Bank started coverage on shares of Proto Labs in a research report on Wednesday, November 14th. They set a “buy” rating and a $159.00 price target on the stock. ValuEngine lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Finally, Piper Jaffray Companies decreased their target price on shares of Proto Labs to $98.00 and set a “neutral” rating on the stock in a report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $134.00.

Shares of PRLB opened at $104.00 on Wednesday. The stock has a market capitalization of $2.82 billion, a PE ratio of 37.01, a P/E/G ratio of 1.08 and a beta of 1.63. Proto Labs has a fifty-two week low of $94.20 and a fifty-two week high of $166.60.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.06). Proto Labs had a net margin of 17.19% and a return on equity of 14.73%. The company had revenue of $112.80 million during the quarter, compared to the consensus estimate of $115.40 million. During the same period in the previous year, the company earned $0.58 earnings per share. Proto Labs’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts predict that Proto Labs will post 3 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Hardy Reed LLC bought a new position in Proto Labs in the 4th quarter valued at about $258,000. Vanguard Group Inc. boosted its stake in shares of Proto Labs by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,625,466 shares of the industrial products company’s stock valued at $424,668,000 after purchasing an additional 100,343 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Proto Labs by 24.4% in the 3rd quarter. Riverhead Capital Management LLC now owns 2,552 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 500 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Proto Labs by 6.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the industrial products company’s stock valued at $1,925,000 after purchasing an additional 700 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Proto Labs by 9.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 372,470 shares of the industrial products company’s stock valued at $60,247,000 after purchasing an additional 33,022 shares in the last quarter. 97.68% of the stock is currently owned by hedge funds and other institutional investors.

Proto Labs Company Profile

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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