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

Needham & Company LLC reaffirmed their hold rating on shares of Proto Labs (NYSE:PRLB) in a report released on Monday, Benzinga reports.

PRLB has been the topic of a number of other reports. Cantor Fitzgerald reiterated an overweight rating and issued a $44.00 price objective on shares of Proto Labs in a report on Tuesday, July 30th. Craig Hallum lowered their price target on shares of Proto Labs from $38.00 to $34.00 and set a hold rating on the stock in a research note on Monday, May 6th. Finally, Benchmark restated a buy rating and set a $45.00 price objective on shares of Proto Labs in a research note on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $41.25.

Proto Labs Stock Performance

NYSE PRLB traded up $0.91 on Monday, reaching $29.57. The company had a trading volume of 341,166 shares, compared to its average volume of 164,273. The company’s fifty day moving average is $31.53 and its 200-day moving average is $33.34. Proto Labs has a 1-year low of $23.01 and a 1-year high of $41.87. The firm has a market capitalization of $748.59 million, a price-to-earnings ratio of 37.22 and a beta of 1.33.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The company had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $126.25 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. Proto Labs’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Proto Labs will post 0.69 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. Norges Bank bought a new position in Proto Labs during the 4th quarter worth $11,382,000. Assenagon Asset Management S.A. bought a new position in shares of Proto Labs in the second quarter worth $7,535,000. Hillsdale Investment Management Inc. acquired a new position in Proto Labs in the fourth quarter valued at about $3,911,000. Jupiter Asset Management Ltd. lifted its position in Proto Labs by 89.3% during the first quarter. Jupiter Asset Management Ltd. now owns 147,011 shares of the industrial products company’s stock worth $5,256,000 after purchasing an additional 69,347 shares during the period. Finally, Partnership Wealth Management LLC acquired a new stake in Proto Labs during the fourth quarter worth about $2,445,000. 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.