Trade Report: Today, The Zacks Investment Research lowers the Stock rating of Proto Labs Inc. (PRLB)

Today, The Zacks Investment Research lowers the Stock rating of Proto Labs Inc. (PRLB)

Proto Labs Inc. (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 research analysts also recently issued reports about the stock. Canaccord Genuity restated a “buy” rating and issued a $65.00 price target on shares of Proto Labs in a research report on Friday, September 2nd. TheStreet downgraded shares of Proto Labs from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Dougherty & Co downgraded shares of Proto Labs from a “buy” rating to a “sell” rating in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $70.25.

Shares of Proto Labs (NYSE:PRLB) traded down 1.18% on Wednesday, reaching $54.65. 362,808 shares of the company’s stock traded hands. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 31.77 and a beta of 0.64. Proto Labs has a 52 week low of $43.10 and a 52 week high of $82.06. The company has a 50 day moving average price of $51.47 and a 200 day moving average price of $57.11.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The company earned $78.20 million during the quarter, compared to analyst estimates of $29.97 million. Proto Labs had a net margin of 15.14% and a return on equity of 13.03%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. On average, equities research analysts predict that Proto Labs will post $1.79 earnings per share for the current fiscal year.

In related news, insider Arthur R. Baker III bought 3,000 shares of the stock in a transaction on Thursday, September 1st. The shares were purchased at an average price of $55.00 per share, with a total value of $165,000.00. Following the purchase, the insider now owns 7,105 shares in the company, valued at $390,775. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.48% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Brown Capital Management LLC boosted its position in shares of Proto Labs by 0.3% in the second quarter. Brown Capital Management LLC now owns 2,758,736 shares of the company’s stock valued at $158,793,000 after buying an additional 6,931 shares in the last quarter. Riverbridge Partners LLC boosted its position in shares of Proto Labs by 8.6% in the third quarter. Riverbridge Partners LLC now owns 1,902,885 shares of the company’s stock valued at $114,002,000 after buying an additional 150,739 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Proto Labs by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,864,255 shares of the company’s stock valued at $107,307,000 after buying an additional 51,212 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Proto Labs by 9.0% in the third quarter. BlackRock Fund Advisors now owns 1,654,935 shares of the company’s stock valued at $99,147,000 after buying an additional 137,230 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in shares of Proto Labs by 107.2% in the third quarter. TimesSquare Capital Management LLC now owns 1,449,500 shares of the company’s stock valued at $86,840,000 after buying an additional 750,000 shares in the last quarter.

Proto Labs Company Profile

Proto Labs, Inc is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers.

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