Zacks Investment Research Downgrades Proto Labs (PRLB) to Hold

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

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 research firms have also issued reports on PRLB. Craig Hallum set a $92.00 price objective on Proto Labs and gave the company a “hold” rating in a research report on Monday, November 27th. BidaskClub lowered 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 objective 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 assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.25.

Proto Labs (NYSE:PRLB) opened at $111.70 on Friday. Proto Labs has a 12-month low of $48.00 and a 12-month high of $111.80. The stock has a market capitalization of $2,891.07, a P/E ratio of 63.83, a P/E/G ratio of 2.36 and a beta of 1.07.

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

In other Proto Labs news, VP Robert Bodor sold 4,000 shares of the business’s 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 transaction, the vice president now owns 20,578 shares in the company, valued at approximately $1,950,588.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rainer Gawlick sold 1,500 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $90.31, for a total value of $135,465.00. Following the transaction, the director now owns 6,925 shares of the company’s stock, valued at approximately $625,396.75. The disclosure for this sale can be found here. Insiders have sold a total of 19,556 shares of company stock valued at $1,814,101 in the last quarter. 7.78% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in PRLB. Schwab Charles Investment Management Inc. boosted its position in Proto Labs by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 105,104 shares of the industrial products company’s stock worth $7,069,000 after acquiring an additional 973 shares during the period. Victory Capital Management Inc. boosted its position in Proto Labs by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,323 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 349 shares during the period. Swiss National Bank boosted its position in Proto Labs by 3.2% during the 2nd quarter. Swiss National Bank now owns 42,500 shares of the industrial products company’s stock worth $2,858,000 after acquiring an additional 1,300 shares during the period. Teachers Advisors LLC boosted its position in Proto Labs by 0.6% during the 2nd quarter. Teachers Advisors LLC now owns 45,180 shares of the industrial products company’s stock worth $3,038,000 after acquiring an additional 289 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Proto Labs by 52.0% in the second quarter. Ameriprise Financial Inc. now owns 266,062 shares of the industrial products company’s stock valued at $17,891,000 after buying an additional 91,072 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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