Proto Labs (NYSE:PRLB) Stock Price Expected to Rise, Craig Hallum Analyst Says

Proto Labs (NYSE:PRLB) had its price objective lifted by analysts at Craig Hallum from $30.00 to $36.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Craig Hallum’s target price would suggest a potential upside of 5.32% from the stock’s previous close.

A number of other research firms have also issued reports on PRLB. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 target price on shares of Proto Labs in a research note on Monday. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Friday. Finally, StockNews.com lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Stock Performance

Shares of Proto Labs stock traded down $3.82 during midday trading on Monday, reaching $34.18. 323,404 shares of the company’s stock traded hands, compared to its average volume of 191,080. Proto Labs has a 52 week low of $25.75 and a 52 week high of $41.87. The company’s 50 day simple moving average is $28.99 and its 200 day simple moving average is $30.44. The company has a market cap of $859.63 million, a price-to-earnings ratio of 35.83 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last posted its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The business had revenue of $125.60 million for the quarter, compared to analyst estimates of $121.38 million. During the same period last year, the business posted $0.31 EPS. Proto Labs’s revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Proto Labs will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Robert Bodor purchased 3,480 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost 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. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Proto Labs

Several institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its holdings in Proto Labs by 22.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock valued at $8,807,000 after purchasing an additional 55,932 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Proto Labs by 1.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock valued at $60,123,000 after purchasing an additional 36,510 shares during the last quarter. Meros Investment Management LP lifted its holdings in Proto Labs by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 139,816 shares of the industrial products company’s stock valued at $4,319,000 after purchasing an additional 2,252 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in Proto Labs during the 2nd quarter valued at about $591,000. Finally, AQR Capital Management LLC lifted its holdings in Proto Labs by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 35,489 shares of the industrial products company’s stock valued at $1,096,000 after purchasing an additional 15,230 shares during the last quarter. 84.54% of the stock is currently owned by institutional investors and hedge funds.

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.