Proto Labs (NYSE:PRLB) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Proto Labs (NYSE:PRLB - Free Report) from a strong-buy rating to a buy rating in a report published on Thursday.

PRLB has been the subject of a number of other research reports. Needham & Company LLC reiterated a "hold" rating on shares of Proto Labs in a report on Friday, February 7th. Cantor Fitzgerald increased their price objective on Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Proto Labs has a consensus rating of "Moderate Buy" and an average price target of $43.67.

Proto Labs Trading Down 0.0 %

PRLB traded down $0.00 during trading on Thursday, reaching $35.39. The stock had a trading volume of 100,517 shares, compared to its average volume of 233,056. The stock's 50 day moving average is $35.87 and its two-hundred day moving average is $37.71. The company has a market capitalization of $841.18 million, a price-to-earnings ratio of 54.44 and a beta of 1.52. Proto Labs has a one year low of $25.76 and a one year high of $46.73.

Proto Labs declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 9.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Proto Labs

Several large investors have recently bought and sold shares of PRLB. Sterling Capital Management LLC increased its holdings in Proto Labs by 764.1% in the 4th quarter. Sterling Capital Management LLC now owns 795 shares of the industrial products company's stock worth $31,000 after buying an additional 703 shares in the last quarter. GAMMA Investing LLC increased its holdings in Proto Labs by 249.4% in the 1st quarter. GAMMA Investing LLC now owns 926 shares of the industrial products company's stock worth $32,000 after buying an additional 661 shares in the last quarter. Quarry LP increased its holdings in Proto Labs by 175.7% in the 4th quarter. Quarry LP now owns 1,585 shares of the industrial products company's stock worth $62,000 after buying an additional 1,010 shares in the last quarter. Modus Advisors LLC bought a new stake in Proto Labs in the 4th quarter worth about $87,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Proto Labs in the 4th quarter worth about $192,000. 84.54% of the stock is currently owned by institutional investors.

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.