Posted by admin on May 19th, 2022
Proto Labs (NYSE:PRLB – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The brokerage currently has a $50.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.58% from the company’s previous close.
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. “
A number of other analysts have also commented on the company. Craig Hallum cut their price target on Proto Labs from $56.00 to $50.00 in a report on Monday, May 9th. StockNews.com assumed coverage on Proto Labs in a research note on Thursday, March 31st. They issued 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 stock. According to MarketBeat, Proto Labs has a consensus rating of “Hold” and a consensus price target of $53.00.
Shares of PRLB opened at $44.81 on Thursday. The stock has a 50 day simple moving average of $48.00 and a 200 day simple moving average of $51.47. Proto Labs has a 52-week low of $39.36 and a 52-week high of $98.26. The firm has a market capitalization of $1.23 billion, a PE ratio of 35.56 and a beta of 1.43.
Proto Labs (NYSE:PRLB – Get Rating) last released its quarterly earnings results on Friday, May 6th. The industrial products company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.10. Proto Labs had a net margin of 7.01% and a return on equity of 4.19%. The company had revenue of $124.20 million during the quarter, compared to analysts’ expectations of $122.03 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts anticipate that Proto Labs will post 0.51 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRLB. Amundi Pioneer Asset Management Inc. grew its stake in Proto Labs by 34.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 166,743 shares of the industrial products company’s stock valued at $17,531,000 after purchasing an additional 42,323 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Proto Labs by 47.9% in the 2nd quarter. Morgan Stanley now owns 370,382 shares of the industrial products company’s stock valued at $34,001,000 after buying an additional 120,022 shares during the last quarter. Truist Financial Corp bought a new position in shares of Proto Labs in the third quarter valued at $326,000. Russell Investments Group Ltd. increased its holdings in Proto Labs by 67.4% during the third quarter. Russell Investments Group Ltd. now owns 17,228 shares of the industrial products company’s stock worth $1,147,000 after buying an additional 6,936 shares during the last quarter. Finally, Swiss National Bank raised its position in Proto Labs by 0.7% during the third quarter. Swiss National Bank now owns 61,200 shares of the industrial products company’s stock worth $4,076,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 93.35% of the company’s stock.
About Proto Labs (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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