Proto Labs (NYSE:PRLB) Downgraded by StockNews.com to “Buy”

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

A number of other research analysts also recently weighed in on the stock. Craig Hallum reduced their target price on shares of Proto Labs from $38.00 to $34.00 and set a hold rating for the company in a research report on Monday, May 6th. Benchmark reissued a buy rating and set a $45.00 price objective on shares of Proto Labs in a report on Wednesday, May 29th. Needham & Company LLC restated a hold rating on shares of Proto Labs in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $44.00 price target on shares of Proto Labs in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Proto Labs presently has an average rating of Moderate Buy and an average target price of $41.25.

Proto Labs Stock Performance

Shares of PRLB stock traded up $0.91 during trading hours on Monday, hitting $29.57. 341,166 shares of the company were exchanged, compared to its average volume of 164,273. Proto Labs has a fifty-two week low of $23.01 and a fifty-two week high of $41.87. The company has a 50 day simple moving average of $31.53 and a two-hundred day simple moving average of $33.34. The firm has a market cap of $748.59 million, a P/E ratio of 37.22 and a beta of 1.33.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The company had revenue of $125.60 million during the quarter, compared to the consensus estimate of $126.25 million. During the same period last year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Proto Labs will post 0.69 EPS for the current fiscal year.

Institutional Trading of Proto Labs

Several hedge funds have recently added to or reduced their stakes in PRLB. International Assets Investment Management LLC grew its holdings 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 worth $35,000 after acquiring an additional 873 shares during the last quarter. Innealta Capital LLC purchased a new stake in Proto Labs in the 2nd quarter worth approximately $40,000. Headlands Technologies LLC grew its position in shares of Proto Labs by 224.0% in the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,295 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Proto Labs in the 1st quarter worth approximately $110,000. Finally, Shell Asset Management Co. purchased a new position in shares of Proto Labs during the first quarter valued at approximately $132,000. 84.54% of the stock is owned by 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.