Proto Labs (PRLB) Price Target Lowered to $98.00 at Piper Jaffray Companies


Proto Labs (NYSE:PRLB) had its target price reduced by analysts at Piper Jaffray Companies to $98.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Piper Jaffray Companies’ target price indicates a potential downside of 3.52% from the company’s current price.


PRLB has been the subject of several other research reports. Zacks Investment Research raised shares of Proto Labs from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a report on Thursday, November 1st. Northcoast Research began coverage on shares of Proto Labs in a report on Wednesday, December 12th. They set a “buy” rating and a $145.00 price objective for the company. Finally, Berenberg Bank began coverage on shares of Proto Labs in a report on Wednesday, November 14th. They set a “buy” rating and a $159.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Proto Labs presently has an average rating of “Buy” and an average target price of $134.00.


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Proto Labs stock traded down $28.48 during mid-day trading on Thursday, hitting $101.58. The stock had a trading volume of 1,253,935 shares, compared to its average volume of 173,677. The company has a market capitalization of $3.52 billion, a P/E ratio of 52.63, a P/E/G ratio of 1.34 and a beta of 1.63. Proto Labs has a one year low of $94.20 and a one year high of $166.60.

Proto Labs (NYSE:PRLB) last issued its earnings results on Thursday, February 7th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.06). The firm had revenue of $112.80 million during the quarter, compared to the consensus estimate of $115.40 million. Proto Labs had a return on equity of 14.31% and a net margin of 16.76%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. As a group, analysts anticipate that Proto Labs will post 2.79 earnings per share for the current fiscal year.


Several institutional investors and hedge funds have recently added to or reduced their stakes in PRLB. BlackRock Inc. boosted its holdings in shares of Proto Labs by 9.6% during the 3rd quarter. BlackRock Inc. now owns 3,924,345 shares of the industrial products company’s stock valued at $634,763,000 after purchasing an additional 343,541 shares during the last quarter. Matarin Capital Management LLC bought a new position in shares of Proto Labs during the 3rd quarter valued at about $29,186,000. Vanguard Group Inc. boosted its holdings in shares of Proto Labs by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,625,466 shares of the industrial products company’s stock valued at $424,668,000 after purchasing an additional 100,343 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Proto Labs by 4.0% during the 3rd quarter. Vanguard Group Inc now owns 2,625,466 shares of the industrial products company’s stock valued at $424,668,000 after purchasing an additional 100,343 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Proto Labs by 14.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 690,326 shares of the industrial products company’s stock valued at $111,660,000 after purchasing an additional 84,695 shares during the last quarter. 93.05% of the stock is owned by institutional investors and hedge funds.


About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled 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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