Proto Labs (NYSE:PRLB) Hits New 52-Week Low at $94.02

Shares of Proto Labs Inc (NYSE:PRLB) reached a new 52-week low on Monday . The company traded as low as $94.02 and last traded at $94.31, with a volume of 5414 shares traded. The stock had previously closed at $96.20.

A number of analysts recently weighed in on PRLB shares. Piper Jaffray Companies cut their target price on shares of Proto Labs from $92.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Zacks Investment Research upgraded shares of Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Thursday, August 1st. Finally, ValuEngine lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Proto Labs presently has a consensus rating of “Buy” and an average price target of $126.25.

The company has a market cap of $2.66 billion, a P/E ratio of 33.48, a PEG ratio of 1.24 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.26 and a quick ratio of 4.08. The business’s 50 day moving average is $105.77.

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

A number of institutional investors have recently made changes to their positions in PRLB. Parallel Advisors LLC purchased a new position in Proto Labs in the first quarter valued at approximately $34,000. Brand Asset Management Group Inc. purchased a new position in Proto Labs in the first quarter valued at approximately $45,000. Icon Wealth Partners LLC purchased a new position in Proto Labs in the first quarter valued at approximately $57,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Proto Labs in the second quarter valued at approximately $87,000. Finally, Nisa Investment Advisors LLC increased its stake in Proto Labs by 18.8% in 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. Institutional investors own 92.54% of the company’s stock.

About Proto Labs (NYSE:PRLB)

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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