Proto Labs (NYSE:PRLB) Price Target Cut to $34.00

Proto Labs (NYSE:PRLB) had its price objective lowered by Craig Hallum from $38.00 to $34.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Craig Hallum’s price objective would indicate a potential upside of 7.22% from the company’s current price.

Several other equities analysts also recently weighed in on the company. StockNews.com upgraded Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Monday.

Proto Labs Stock Up 2.0 %

Shares of Proto Labs stock traded up $0.62 on Monday, reaching $31.71. The company’s stock had a trading volume of 72,178 shares, compared to its average volume of 156,217. The company has a market capitalization of $810.51 million, a price-to-earnings ratio of 41.04 and a beta of 1.36. The firm’s fifty day simple moving average is $34.01 and its two-hundred day simple moving average is $34.77. Proto Labs has a 52 week low of $23.01 and a 52 week high of $41.87.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). The firm had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $122.81 million. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned ($4.24) earnings per share. As a group, research analysts predict that Proto Labs will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Proto Labs

Several large investors have recently added to or reduced their stakes in PRLB. International Assets Investment Management LLC boosted its position in shares of Proto Labs by 3,795.7% during the fourth quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock valued at $35,000 after buying an additional 873 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Proto Labs in the first quarter valued at approximately $110,000. Tradition Wealth Management LLC boosted its holdings in shares of Proto Labs by 7.8% in the fourth quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Proto Labs in the fourth quarter valued at approximately $202,000. Finally, Summit Global Investments purchased a new stake in shares of Proto Labs in the fourth quarter valued at approximately $217,000. 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.