Cantor Fitzgerald Reiterates Overweight Rating for Proto Labs (NYSE:PRLB)

Proto Labs (NYSE:PRLB)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.86% from the company’s previous close.

A number of other analysts have also recently commented on PRLB. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Friday, November 1st. StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Proto Labs presently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Price Performance

Proto Labs stock opened at $35.13 on Monday. Proto Labs has a 1-year low of $25.75 and a 1-year high of $41.87. The stock has a market cap of $883.52 million, a PE ratio of 37.50 and a beta of 1.32. The stock’s fifty day moving average is $29.05 and its two-hundred day moving average is $30.46.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $121.38 million. During the same period last year, the firm earned $0.31 earnings per share. Proto Labs’s quarterly revenue was down 3.9% on a year-over-year basis. On average, research analysts expect that Proto Labs will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Proto Labs

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average price of $28.68 per share, with a total value of $99,806.40. Following the acquisition, the chief executive officer now owns 80,878 shares of the company’s stock, valued at $2,319,581.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Proto Labs

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Proto Labs by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock valued at $106,541,000 after purchasing an additional 57,894 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Proto Labs by 1.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock worth $60,123,000 after acquiring an additional 36,510 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Proto Labs by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock worth $34,305,000 after acquiring an additional 130,670 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Proto Labs by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock worth $13,463,000 after acquiring an additional 106,423 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Proto Labs by 22.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock worth $8,807,000 after acquiring an additional 55,932 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Company Profile

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.