BidaskClub Downgrades Proto Labs, Inc. (PRLB) to Buy
Proto Labs, Inc. (NYSE:PRLB) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.
PRLB has been the subject of several other research reports. Dougherty & Co upgraded shares of Proto Labs from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies restated a “hold” rating and set a $67.00 price target on shares of Proto Labs in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.00.
Proto Labs (NYSE:PRLB) opened at 80.10 on Friday. The firm’s 50-day moving average is $74.40 and its 200 day moving average is $65.86. The stock has a market capitalization of $2.13 billion, a P/E ratio of 46.57 and a beta of 0.99. Proto Labs has a 12 month low of $43.10 and a 12 month high of $82.50.
Proto Labs (NYSE:PRLB) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. Proto Labs had a net margin of 14.59% and a return on equity of 11.75%. The firm had revenue of $82.04 million during the quarter, compared to analyst estimates of $80.49 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Proto Labs will post $2.06 earnings per share for the current year.
In other news, VP Robert Bodor sold 741 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $73.84, for a total transaction of $54,715.44. Following the completion of the transaction, the vice president now owns 17,319 shares in the company, valued at $1,278,834.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.78% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of 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 worth $1,110,000 after acquiring an additional 3,337 shares during the last quarter. BlackRock Inc. grew its position in shares of Proto Labs by 146,773.4% during the first quarter. BlackRock Inc. now owns 2,905,155 shares of the industrial products company’s stock worth $148,453,000 after acquiring an additional 2,903,177 shares during the last quarter. Royce & Associates LP grew its position in shares of Proto Labs by 33.8% during the second quarter. Royce & Associates LP now owns 61,603 shares of the industrial products company’s stock worth $4,143,000 after acquiring an additional 15,578 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Proto Labs by 81.9% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 13,995 shares of the industrial products company’s stock worth $941,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Proto Labs by 1.6% during the first quarter. Arizona State Retirement System now owns 12,700 shares of the industrial products company’s stock worth $649,000 after acquiring an additional 200 shares during the last quarter.
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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