Proto Labs (NYSE:PRLB) Rating Lowered to Neutral at Northcoast Research

Proto Labs (NYSE:PRLB) was downgraded by stock analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

A number of other research analysts also recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Thursday. Piper Jaffray Companies dropped their price target on Proto Labs from $92.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. ValuEngine downgraded Proto Labs from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Zacks Investment Research downgraded Proto Labs from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $126.25.

PRLB stock opened at $94.86 on Friday. The company has a market cap of $2.88 billion, a PE ratio of 33.76 and a beta of 1.64. The business has a 50-day simple moving average of $102.37 and a 200 day simple moving average of $104.22. Proto Labs has a 52 week low of $88.75 and a 52 week high of $131.85. The company has a quick ratio of 4.08, a current ratio of 4.26 and a debt-to-equity ratio of 0.02.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $117.46 million during the quarter, compared to the consensus estimate of $119.39 million. Proto Labs had a return on equity of 13.14% and a net margin of 15.71%. Proto Labs’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, analysts anticipate that Proto Labs will post 2.5 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. grew its position 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 worth $17,531,000 after acquiring an additional 42,323 shares in the last quarter. Scout Investments Inc. grew its position in Proto Labs by 65.1% in the second quarter. Scout Investments Inc. now owns 102,207 shares of the industrial products company’s stock worth $11,858,000 after acquiring an additional 40,300 shares in the last quarter. Capital Investment Services of America Inc. boosted its holdings in shares of Proto Labs by 1.3% during the 2nd quarter. Capital Investment Services of America Inc. now owns 119,756 shares of the industrial products company’s stock worth $13,894,000 after buying an additional 1,495 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Proto Labs by 33.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,265 shares of the industrial products company’s stock worth $147,000 after buying an additional 315 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Proto Labs by 1.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,684 shares of the industrial products company’s stock worth $1,240,000 after buying an additional 200 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Proto Labs Company 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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