Proto Labs (NYSE:PRLB) PT Lowered to $34.00

Proto Labs (NYSE:PRLB) had its target price dropped by equities research analysts at Craig Hallum from $38.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Craig Hallum’s price target would suggest a potential upside of 7.94% from the company’s current price.

PRLB has been the subject of a number of other research reports. StockNews.com upgraded Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Monday.

Proto Labs Stock Performance

PRLB opened at $31.50 on Monday. The business’s 50-day simple moving average is $33.76 and its 200 day simple moving average is $34.85. The firm has a market capitalization of $805.14 million, a PE ratio of 40.91 and a beta of 1.36. 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 data on Friday, February 9th. The industrial products company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.05). Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The company had revenue of $125.10 million during the quarter, compared to analyst estimates of $122.81 million. During the same period in the previous year, the company posted ($4.24) EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts forecast that Proto Labs will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Proto Labs

A number of institutional investors have recently made changes to their positions in PRLB. Tradition Wealth Management LLC boosted its stake in Proto Labs by 7.8% in the 4th 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. Jump Financial LLC grew its stake in shares of Proto Labs by 1.9% in the third quarter. Jump Financial LLC now owns 18,333 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 342 shares in the last quarter. Diversified Trust Co increased its position in Proto Labs by 5.2% during the first quarter. Diversified Trust Co now owns 7,724 shares of the industrial products company’s stock worth $276,000 after acquiring an additional 382 shares during the period. Swiss National Bank raised its stake in Proto Labs by 0.9% in the 3rd quarter. Swiss National Bank now owns 57,600 shares of the industrial products company’s stock worth $1,521,000 after purchasing an additional 500 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in Proto Labs by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 534 shares during the period. 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.