Proto Labs (NYSE:PRLB) Reaches New 1-Year High – Time to Buy?

Proto Labs, Inc. (NYSE:PRLB)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.88 and last traded at $41.88, with a volume of 101 shares changing hands. The stock had previously closed at $41.50.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a research note on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Finally, Craig Hallum raised their target price on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Proto Labs presently has an average rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Trading Up 2.1 %

The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 44.15 and a beta of 1.32. The business’s 50-day simple moving average is $31.60 and its two-hundred day simple moving average is $31.17.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.15. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The company had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $121.38 million. During the same period in the prior year, the company posted $0.31 earnings per share. Proto Labs’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, analysts forecast that Proto Labs, Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor bought 3,480 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the transaction, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. The trade was a 4.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Proto Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in Proto Labs by 66.4% in the third quarter. Barclays PLC now owns 42,633 shares of the industrial products company’s stock valued at $1,252,000 after acquiring an additional 17,017 shares during the period. Meros Investment Management LP grew its position in Proto Labs by 3.4% in the 3rd quarter. Meros Investment Management LP now owns 144,541 shares of the industrial products company’s stock valued at $4,245,000 after purchasing an additional 4,725 shares during the period. Geode Capital Management LLC grew its position in Proto Labs by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 585,809 shares of the industrial products company’s stock valued at $17,209,000 after purchasing an additional 4,285 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Proto Labs by 5.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,056,593 shares of the industrial products company’s stock valued at $60,402,000 after purchasing an additional 110,244 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Proto Labs by 22.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,946 shares of the industrial products company’s stock worth $380,000 after buying an additional 2,356 shares during the last quarter. 84.54% of the stock is owned by institutional investors.

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.