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Proto Labs (NYSE:PRLB - Get Rating) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $50.00 price objective on the industrial products company's stock. Zacks Investment Research's price target suggests a potential upside of 11.58% from the company's current price.
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 equities analysts have also issued research reports about the stock. Craig Hallum dropped their target price on shares of Proto Labs from $56.00 to $50.00 in a research report on Monday, May 9th. StockNews.com initiated coverage on shares of Proto Labs in a report on Thursday, March 31st. They set a "hold" rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $53.00.
Shares of NYSE:PRLB opened at $44.81 on Thursday. The stock's 50-day moving average is $48.00 and its 200-day moving average is $51.47. The company has a market cap of $1.23 billion, a P/E ratio of 35.56 and a beta of 1.43. Proto Labs has a 52-week low of $39.36 and a 52-week high of $98.26.
Proto Labs (NYSE:PRLB - Get Rating) last released its earnings results on Friday, May 6th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.10. The firm had revenue of $124.20 million for the quarter, compared to analyst estimates of $122.03 million. Proto Labs had a return on equity of 4.19% and a net margin of 7.01%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. Research analysts predict that Proto Labs will post 0.51 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN lifted its position in Proto Labs by 51.6% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,791,933 shares of the industrial products company's stock worth $92,016,000 after purchasing an additional 609,720 shares during the period. Norges Bank bought a new position in shares of Proto Labs during the 4th quarter worth about $21,876,000. BlackRock Inc. boosted its position in shares of Proto Labs by 8.3% during the 4th quarter. BlackRock Inc. now owns 4,966,091 shares of the industrial products company's stock valued at $255,011,000 after acquiring an additional 381,223 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Proto Labs by 338.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 425,172 shares of the industrial products company's stock valued at $21,833,000 after acquiring an additional 328,112 shares during the period. Finally, Federated Hermes Inc. raised its position in Proto Labs by 63.4% in the first quarter. Federated Hermes Inc. now owns 461,748 shares of the industrial products company's stock worth $24,426,000 after purchasing an additional 179,112 shares in the last quarter. Institutional investors and hedge funds own 93.35% of the company's stock.
Proto Labs Company Profile (Get Rating)
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.
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