Riverbridge Partners LLC increased its holdings in Proto Labs Inc (NYSE:PRLB) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,538,713 shares of the industrial products company’s stock after acquiring an additional 144,825 shares during the quarter. Proto Labs makes up about 3.0% of Riverbridge Partners LLC’s investment portfolio, making the stock its largest position. Riverbridge Partners LLC owned approximately 0.06% of Proto Labs worth $157,103,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC purchased a new stake in Proto Labs in the second quarter worth about $30,000. NumerixS Investment Technologies Inc purchased a new stake in Proto Labs in the second quarter worth about $35,000. CSat Investment Advisory L.P. purchased a new stake in Proto Labs in the second quarter worth about $63,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Proto Labs in the second quarter worth about $87,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Proto Labs in the first quarter worth about $109,000. 93.86% of the stock is owned by institutional investors.
A number of research firms recently weighed in on PRLB. Zacks Investment Research lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Piper Jaffray Companies decreased their price target on shares of Proto Labs from $92.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, ValuEngine lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $126.25.
PRLB stock opened at $100.99 on Friday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 35.94 and a beta of 1.64. The firm has a 50-day simple moving average of $99.73 and a two-hundred day simple moving average of $104.45. Proto Labs Inc has a one year low of $88.75 and a one year high of $131.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.08 and a current ratio of 4.26.
Proto Labs (NYSE:PRLB) last released 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 business had revenue of $115.90 million during 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 company’s quarterly 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. As a group, equities analysts predict that Proto Labs Inc will post 2.5 earnings per share for the current fiscal year.
Proto Labs 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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