Proto Labs’ (PRLB) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Proto Labs (NYSE:PRLB) in a research note published on Thursday morning,Benzinga reports.

Several other equities analysts have also recently commented on PRLB. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of Proto Labs in a research report on Monday, November 4th. Craig Hallum upped their target price on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Trading Down 1.2 %

Shares of NYSE PRLB opened at $38.47 on Thursday. The firm has a market cap of $942.85 million, a P/E ratio of 40.92 and a beta of 1.45. The business’s 50 day moving average is $40.15 and its 200-day moving average is $33.78. Proto Labs has a 1-year low of $25.75 and a 1-year high of $45.15.

Proto Labs (NYSE:PRLB) last posted its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The company had revenue of $125.60 million during the quarter, compared to the consensus estimate of $121.38 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Analysts forecast that Proto Labs will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Proto Labs

Several hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in shares of Proto Labs in the 2nd quarter valued at about $37,000. KBC Group NV raised its holdings in Proto Labs by 69.3% during the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 631 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of Proto Labs in the 4th quarter worth approximately $87,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Proto Labs by 40.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Proto Labs by 72.3% during the third quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,873 shares during the period. 84.54% of the stock is currently owned by institutional investors and hedge funds.

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.