Proto Labs Inc (PRLB) was Downgraded by Dougherty & Company to ” Sell” while Lowering the Price Target of the company shares to $ 50 from a previous price target of $90 . Earlier the firm had a rating of “Buy ” on the company shares. Dougherty & Company advised their investors in a research report released on Aug 31, 2016.
On the company’s financial health, Proto Labs Inc reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $75.00 million for the quarter, compared to analysts expectations of $77.19 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Proto Labs Inc opened for trading at $58.82 and hit $59.8 on the upside on Monday, eventually ending the session at $59.64, with a gain of 1.50% or 0.88 points. The heightened volatility saw the trading volume jump to 1,63,686 shares. Company has a market cap of $1,576 M.
In a different news, on May 23, 2016, Rainer Gawlick (director) sold 357 shares at $61.20 per share price. According to the SEC, on Apr 6, 2016, Jacqueline D. Schneider (Vice President Global Sales) sold 19,844 shares at $77.66 per share price. On Apr 4, 2016, John B. Tumelty (VP/GM & Managing Director-EMEA) sold 21,000 shares at $77.74 per share price, according to the Form-4 filing with the securities and exchange commission.
Proto Labs Inc. (Proto Labs) is an online manufacturer of custom parts for prototyping and short-run production. The Company utilizes computer numerical control (CNC) machining and injection molding to manufacture custom parts for its customers. The Company provides parts for product developers and engineers across the world. The Company utilizes computer numerical control (CNC) machining and injection molding to manufacture custom parts for its customers. The Company targets its products to the product developers and engineers who use three-dimensional computer-aided design (3D CAD) software to design products across a diverse range of end-markets. Its primary manufacturing product lines include Protomold which is an injection molding product line Firstcut which is a CNC machining product line and Fineline which is an additive-manufactured (3D printing) product line. The Company has operations in the United States Europe and Japan.