Proto Labs (NYSE:PRLB) Sets New 1-Year High - What's Next?

Key Points

• Proto Labs (NYSE:PRLB) reached a new 52-week high of $48.00, with a recent trading price of $46.69 and significant trading volume of 33,493 shares.
• Wall Street analysts have provided optimistic ratings for Proto Labs, with upgrades from Craig Hallum to a "buy" rating with a $54.00 price target, and from Wall Street Zen to a "strong-buy" rating.
• The CEO, Suresh Krishna, increased his stake by purchasing 1,725 shares at an average price of $43.51, reflecting confidence in the company's future performance.

Proto Labs, Inc. (NYSE:PRLB - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $48.00 and last traded at $46.69, with a volume of 33493 shares traded. The stock had previously closed at $46.29.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Craig Hallum upgraded shares of Proto Labs from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a report on Friday, August 1st. Finally, Cantor Fitzgerald boosted their price target on shares of Proto Labs from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, August 1st.

Proto Labs Stock Performance

The stock's fifty day moving average price is $40.23 and its 200-day moving average price is $38.82. The firm has a market cap of $1.14 billion, a PE ratio of 79.45 and a beta of 1.33.

Proto Labs (NYSE:PRLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.08. The firm had revenue of $135.06 million for the quarter, compared to analysts' expectations of $128.05 million. Proto Labs had a net margin of 2.91% and a return on equity of 2.22%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. Sell-side analysts forecast that Proto Labs, Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Suresh Krishna bought 1,725 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average cost of $43.51 per share, with a total value of $75,054.75. Following the completion of the transaction, the chief executive officer owned 18,021 shares of the company's stock, valued at approximately $784,093.71. The trade was a 10.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Institutional Trading of Proto Labs

A number of hedge funds have recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of Proto Labs by 4.3% during the second quarter. American Century Companies Inc. now owns 76,145 shares of the industrial products company's stock valued at $3,049,000 after purchasing an additional 3,141 shares during the period. Franklin Resources Inc. increased its stake in shares of Proto Labs by 3.5% in the second quarter. Franklin Resources Inc. now owns 30,864 shares of the industrial products company's stock worth $1,236,000 after buying an additional 1,048 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Proto Labs by 28.4% in the second quarter. Hillsdale Investment Management Inc. now owns 153,624 shares of the industrial products company's stock worth $6,151,000 after buying an additional 34,000 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Proto Labs by 68.8% in the second quarter. JPMorgan Chase & Co. now owns 21,756 shares of the industrial products company's stock worth $871,000 after buying an additional 8,864 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Proto Labs by 5.0% in the second quarter. Empowered Funds LLC now owns 103,267 shares of the industrial products company's stock worth $4,135,000 after buying an additional 4,873 shares during the last quarter. Hedge funds and other 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.