Proto Labs (NYSE:PRLB) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Proto Labs (NYSE:PRLB) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $117.00 price objective on the industrial products company’s stock.

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. “

Several other analysts have also weighed in on PRLB. ValuEngine lowered Proto Labs from a buy rating to a hold rating in a report on Thursday, July 11th. Piper Jaffray Companies lowered their price objective on Proto Labs from $92.00 to $84.00 and set a neutral rating for the company in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $126.25.

Proto Labs stock traded down $2.94 during midday trading on Thursday, hitting $95.65. The stock had a trading volume of 102 shares, compared to its average volume of 227,674. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.08 and a current ratio of 4.26. The company has a market capitalization of $2.65 billion, a PE ratio of 35.09, a P/E/G ratio of 1.23 and a beta of 1.57. Proto Labs has a 12 month low of $94.20 and a 12 month high of $166.60. The business’s fifty day moving average is $107.35.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $115.90 million during the quarter, compared to analyst estimates of $116.49 million. Proto Labs had a return on equity of 13.14% and a net margin of 15.71%. Proto Labs’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 earnings per share. As a group, equities research analysts forecast that Proto Labs will post 2.5 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in PRLB. Parallel Advisors LLC bought a new position in shares of Proto Labs during the first quarter valued at approximately $34,000. Brand Asset Management Group Inc. bought a new position in shares of Proto Labs during the first quarter valued at approximately $45,000. Icon Wealth Partners LLC bought a new position in shares of Proto Labs during the first quarter valued at approximately $57,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Proto Labs during the second quarter valued at approximately $87,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Proto Labs by 18.8% during the first quarter. Nisa Investment Advisors LLC now owns 950 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares during the last quarter. 92.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven 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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