Several other brokerages have also weighed in on PRLB. 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 research report on Thursday, July 25th. Zacks Investment Research upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Proto Labs presently has an average rating of “Buy” and a consensus price target of $126.25.
Shares of Proto Labs stock traded down $0.86 during mid-day trading on Tuesday, hitting $108.74. The stock had a trading volume of 9,953 shares, compared to its average volume of 185,164. The firm has a 50-day moving average of $97.76 and a two-hundred day moving average of $105.28. Proto Labs has a 12-month low of $88.75 and a 12-month high of $166.60. The company has a quick ratio of 4.08, a current ratio of 4.26 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.78 billion, a P/E ratio of 38.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Proto Labs had a net margin of 15.71% and a return on equity of 13.14%. The business had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $116.49 million. During the same quarter in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Sell-side analysts expect that Proto Labs will post 2.5 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Proto Labs by 2.4% in the 2nd quarter. BlackRock Inc. now owns 4,025,505 shares of the industrial products company’s stock valued at $467,039,000 after purchasing an additional 92,643 shares during the last quarter. Brown Capital Management LLC boosted its position in shares of Proto Labs by 1.2% during the second quarter. Brown Capital Management LLC now owns 3,767,526 shares of the industrial products company’s stock worth $437,108,000 after buying an additional 44,065 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of Proto Labs by 2.8% during the second quarter. Conestoga Capital Advisors LLC now owns 574,150 shares of the industrial products company’s stock worth $66,613,000 after buying an additional 15,749 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of Proto Labs by 0.5% during the second quarter. Stephens Investment Management Group LLC now owns 548,650 shares of the industrial products company’s stock worth $63,654,000 after buying an additional 2,723 shares during the period. Finally, ARK Investment Management LLC boosted its position in shares of Proto Labs by 61.7% during the second quarter. ARK Investment Management LLC now owns 470,848 shares of the industrial products company’s stock worth $54,628,000 after buying an additional 179,626 shares during the period. 93.87% of the stock is owned by institutional investors.
About Proto Labs
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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