Proto Labs, Inc. (NYSE:PRLB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Proto Labs, Inc. (NYSE:PRLB) have received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $41.25.

Several equities research analysts have weighed in on PRLB shares. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Monday, May 6th. Benchmark reiterated a “buy” rating and issued a $45.00 target price on shares of Proto Labs in a report on Wednesday, May 29th. Cantor Fitzgerald began coverage on shares of Proto Labs in a research report on Wednesday, June 5th. They set an “overweight” rating and a $44.00 price objective for the company. Finally, Craig Hallum lowered their price objective 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRLB. International Assets Investment Management LLC raised its stake 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 purchasing an additional 873 shares in the last quarter. Headlands Technologies LLC raised its stake in 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 purchasing an additional 1,295 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Proto Labs in the 1st quarter worth about $110,000. Shell Asset Management Co. acquired a new stake in Proto Labs in the 1st quarter worth about $132,000. Finally, Tradition Wealth Management LLC raised 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 worth $163,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 84.54% of the company’s stock.

Proto Labs Price Performance

PRLB opened at $30.89 on Friday. Proto Labs has a one year low of $23.01 and a one year high of $41.87. The company’s 50 day simple moving average is $31.24 and its 200-day simple moving average is $34.37. The stock has a market capitalization of $782.01 million, a P/E ratio of 40.12 and a beta of 1.37.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The business had revenue of $127.89 million for the quarter, compared to analysts’ expectations of $123.81 million. As a group, analysts anticipate that Proto Labs will post 0.69 EPS for the current year.

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.