Proto Labs Inc. (PRLB) Cut to Hold at Canaccord Genuity
Proto Labs Inc. (NYSE:PRLB) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Proto Labs from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. TheStreet downgraded Proto Labs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Dougherty & Co downgraded Proto Labs from a “buy” rating to a “sell” rating in a research note on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $70.25.
Proto Labs (NYSE:PRLB) traded up 0.56% on Friday, reaching $44.70. The company’s stock had a trading volume of 826,126 shares. The firm’s 50 day moving average price is $55.38 and its 200-day moving average price is $60.31. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 25.99 and a beta of 0.49. Proto Labs has a 1-year low of $43.10 and a 1-year high of $82.06.
Proto Labs (NYSE:PRLB) last announced its earnings results on Thursday, October 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. Proto Labs had a return on equity of 13.03% and a net margin of 15.14%. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $29.97 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that Proto Labs will post $1.80 earnings per share for the current year.
In other Proto Labs news, insider Arthur R. Baker III purchased 3,000 shares of Proto Labs stock in a transaction that occurred on Thursday, September 1st. The stock was bought at an average price of $55.00 per share, with a total value of $165,000.00. Following the acquisition, the insider now owns 7,105 shares of the company’s stock, valued at approximately $390,775. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.48% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in PRLB. BlackRock Inc. boosted its position in Proto Labs by 20.8% in the second quarter. BlackRock Inc. now owns 1,926 shares of the company’s stock worth $111,000 after buying an additional 332 shares during the last quarter. FineMark National Bank & Trust boosted its position in Proto Labs by 0.3% in the second quarter. FineMark National Bank & Trust now owns 1,988 shares of the company’s stock worth $114,000 after buying an additional 6 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Proto Labs by 586.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,657 shares of the company’s stock worth $153,000 after buying an additional 2,270 shares during the last quarter. Advisor Group Inc. acquired a new position in Proto Labs during the second quarter worth $167,000. Finally, PineBridge Investments L.P. boosted its position in Proto Labs by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,003 shares of the company’s stock worth $173,000 after buying an additional 121 shares during the last quarter.
Proto Labs Company Profile
Proto Labs, Inc is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers.
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