Proto Labs (NYSE:PRLB - Get Free Report) had its price objective lifted by equities research analysts at Cantor Fitzgerald from $50.00 to $51.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Cantor Fitzgerald's target price suggests a potential upside of 15.57% from the stock's current price.
Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Craig Hallum upgraded Proto Labs from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a research report on Friday.
Check Out Our Latest Stock Analysis on PRLB
Proto Labs Stock Performance
PRLB traded up $0.78 during midday trading on Friday, reaching $44.13. 165,200 shares of the company were exchanged, compared to its average volume of 215,086. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 73.55 and a beta of 1.33. Proto Labs has a one year low of $26.34 and a one year high of $46.73. The company's fifty day moving average price is $39.41 and its 200 day moving average price is $38.62.
Proto Labs (NYSE:PRLB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. Proto Labs had a net margin of 2.91% and a return on equity of 2.22%. The business had revenue of $135.06 million for the quarter, compared to analysts' expectations of $128.05 million. During the same period in the previous year, the company earned $0.38 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Proto Labs will post 0.81 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Proto Labs
A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Proto Labs by 97.4% during the 1st quarter. Wellington Management Group LLP now owns 711,738 shares of the industrial products company's stock valued at $24,939,000 after acquiring an additional 351,097 shares during the period. First Trust Advisors LP raised its stake in Proto Labs by 71.9% during the fourth quarter. First Trust Advisors LP now owns 738,576 shares of the industrial products company's stock valued at $28,871,000 after buying an additional 308,970 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Proto Labs by 348.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 212,914 shares of the industrial products company's stock worth $8,323,000 after acquiring an additional 165,396 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Proto Labs by 9,033.1% during the first quarter. Pacer Advisors Inc. now owns 148,595 shares of the industrial products company's stock valued at $5,207,000 after acquiring an additional 146,968 shares in the last quarter. Finally, Nuveen LLC bought a new position in Proto Labs in the 1st quarter worth about $2,458,000. Institutional investors own 84.54% of the company's stock.
Proto Labs Company Profile
(
Get Free Report)
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.
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