Proto Labs (NYSE:PRLB) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Proto Labs (NYSE:PRLB) from a strong-buy rating to a buy rating in a research note published on Monday.

Other equities research analysts have also recently issued reports about the stock. Benchmark restated a buy rating and set a $45.00 price objective on shares of Proto Labs in a research report on Wednesday, May 29th. Craig Hallum reduced their price target on shares of Proto Labs from $38.00 to $34.00 and set a hold rating on the stock in a research report on Monday, May 6th. Cantor Fitzgerald reiterated an overweight rating and issued a $44.00 price objective on shares of Proto Labs in a report on Tuesday, July 30th. Finally, Needham & Company LLC reissued a hold rating on shares of Proto Labs in a research note on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Proto Labs currently has a consensus rating of Moderate Buy and a consensus price target of $41.25.

Proto Labs Stock Performance

Shares of NYSE PRLB traded up $0.91 during mid-day trading on Monday, reaching $29.57. The company’s stock had a trading volume of 341,166 shares, compared to its average volume of 164,273. The stock has a 50-day moving average of $31.53 and a two-hundred day moving average of $33.34. The stock has a market capitalization of $748.59 million, a P/E ratio of 37.22 and a beta of 1.33. Proto Labs has a 1-year low of $23.01 and a 1-year high of $41.87.

Proto Labs (NYSE:PRLB) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $125.60 million during the quarter, compared to the consensus estimate of $126.25 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. Proto Labs’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS. Analysts predict that Proto Labs will post 0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Proto Labs by 3,795.7% in the 4th quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock valued at $35,000 after buying an additional 873 shares during the period. Innealta Capital LLC acquired a new stake in shares of Proto Labs in the second quarter valued at $40,000. Headlands Technologies LLC boosted its holdings in Proto Labs by 224.0% in the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,295 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Proto Labs during the 1st quarter worth $110,000. Finally, Shell Asset Management Co. purchased a new stake in Proto Labs during the 1st quarter worth about $132,000. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.