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. “

Shares of PRLB opened at $159.35 on Wednesday. Proto Labs has a fifty-two week low of $77.30 and a fifty-two week high of $166.60. The stock has a market capitalization of $4.29 billion, a P/E ratio of 82.56, a PEG ratio of 2.85 and a beta of 1.22.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, July 26th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Proto Labs had a return on equity of 13.55% and a net margin of 15.98%. The company had revenue of $109.65 million during the quarter, compared to analyst estimates of $110.46 million. During the same quarter last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. analysts forecast that Proto Labs will post 2.65 earnings per share for the current year.

In other Proto Labs news, Director John B. Goodman sold 1,113 shares of Proto Labs stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $162.95, for a total transaction of $181,363.35. Following the completion of the transaction, the director now owns 12,655 shares of the company’s stock, valued at approximately $2,062,132.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Way sold 3,912 shares of Proto Labs stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $145.79, for a total value of $570,330.48. Following the transaction, the chief financial officer now directly owns 29,415 shares of the company’s stock, valued at approximately $4,288,412.85. The disclosure for this sale can be found here. In the last three months, insiders sold 23,934 shares of company stock valued at $3,663,441. 0.64% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of PRLB. Wells Fargo & Company MN grew its holdings in Proto Labs by 7.5% during the 1st quarter. Wells Fargo & Company MN now owns 46,132 shares of the industrial products company’s stock valued at $5,423,000 after buying an additional 3,208 shares in the last quarter. SG Americas Securities LLC purchased a new position in Proto Labs during the 1st quarter valued at about $188,000. Swiss National Bank grew its holdings in Proto Labs by 3.5% during the 1st quarter. Swiss National Bank now owns 44,000 shares of the industrial products company’s stock valued at $5,172,000 after buying an additional 1,500 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Proto Labs by 6.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 126,829 shares of the industrial products company’s stock valued at $14,909,000 after buying an additional 8,120 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Proto Labs by 5.3% during the 1st quarter. Aperio Group LLC now owns 8,527 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 430 shares in the last quarter. 96.65% of the stock is owned by institutional investors and hedge funds.

About Proto Labs

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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