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

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 analysts have also recently issued research reports about the company. BidaskClub cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Piper Jaffray Companies reiterated a “hold” rating and set a $84.00 target price on shares of Proto Labs in a research report on Thursday, December 14th. Finally, Craig Hallum set a $92.00 target price on Proto Labs and gave the stock a “hold” rating in a research report on Monday, November 27th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.00.

Shares of Proto Labs (NYSE PRLB) opened at $107.30 on Friday. The stock has a market capitalization of $2,810.00, a PE ratio of 60.97, a price-to-earnings-growth ratio of 2.31 and a beta of 1.07. Proto Labs has a fifty-two week low of $48.00 and a fifty-two week high of $109.10.

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

In related news, VP Robert Bodor sold 4,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $94.79, for a total value of $379,160.00. Following 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 accessible through this hyperlink. Also, Director Rainer Gawlick sold 500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $102.75, for a total value of $51,375.00. Following the completion of the transaction, the director now owns 10,925 shares in the company, valued at approximately $1,122,543.75. The disclosure for this sale can be found here. Insiders have sold 19,556 shares of company stock worth $1,814,101 in the last quarter. Insiders own 7.78% of the company’s stock.

A number of hedge funds have recently modified their holdings of PRLB. Victory Capital Management Inc. increased its position in Proto Labs by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,323 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 349 shares during the period. Pinebridge Investments L.P. increased its position in Proto Labs by 0.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,212 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 29 shares during the period. Advisor Group Inc. increased its position in Proto Labs by 3.6% in the 2nd quarter. Advisor Group Inc. now owns 3,409 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 119 shares during the period. Amalgamated Bank acquired a new position in Proto Labs in the 2nd quarter valued at about $230,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Proto Labs in the 3rd quarter valued at about $238,000.

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Proto Labs Company Profile

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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