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

Proto Labs (NYSE:PRLB - Free Report) had its price objective reduced by Craig Hallum from $38.00 to $34.00 in a research note published on Monday morning, Benzinga reports. They currently have a hold rating on the industrial products company's stock.

A number of other analysts have also recently commented on PRLB. Needham & Company LLC reissued a hold rating on shares of Proto Labs in a research note on Monday. StockNews.com upgraded shares of Proto Labs from a buy rating to a strong-buy rating in a research report on Friday, February 2nd.

Proto Labs Stock Performance

NYSE PRLB traded up $0.28 on Monday, reaching $31.37. 138,896 shares of the company's stock traded hands, compared to its average volume of 157,037. The firm has a market cap of $801.82 million, a price-to-earnings ratio of 41.04 and a beta of 1.36. The stock has a 50 day moving average price of $34.01 and a 200-day moving average price of $34.77. Proto Labs has a fifty-two week low of $23.01 and a fifty-two week high of $41.87.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its 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 business had revenue of $125.10 million for the quarter, compared to analyst estimates of $122.81 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.24) earnings per share. As a group, equities research analysts anticipate that Proto Labs will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Proto Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings 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 valued at $35,000 after purchasing an additional 873 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Proto Labs in the 1st quarter valued at approximately $110,000. Tradition Wealth Management LLC grew its position in shares of 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 buying an additional 305 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Proto Labs during the 4th quarter worth $202,000. Finally, Summit Global Investments purchased a new position in Proto Labs during the 4th quarter worth $217,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

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.