Proto Labs (NYSE:PRLB) Receives Hold Rating from Needham & Company LLC

Proto Labs (NYSE:PRLB)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

Other equities analysts have also recently issued reports about the stock. Craig Hallum lifted their target price on shares of Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Stock Performance

Shares of PRLB stock opened at $38.14 on Thursday. The stock’s 50-day moving average is $40.16 and its two-hundred day moving average is $33.66. Proto Labs has a 1 year low of $25.75 and a 1 year high of $45.15. The firm has a market cap of $934.81 million, a price-to-earnings ratio of 40.57 and a beta of 1.45.

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

Institutional Investors Weigh In On Proto Labs

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

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.