Proto Labs (NYSE:PRLB) Raised to "Buy" at Craig Hallum

Key Points

• Proto Labs was upgraded from a "hold" rating to a "buy" rating by Craig Hallum, with a target price of $54.00, indicating a potential upside of 25.60% from the previous close.
• The company reported quarterly earnings of $0.41 per share, surpassing expectations, with revenue also exceeding estimates at $135.06 million, a 7.6% year-over-year increase.
• Significant institutional investor interest has been observed, with firms like Wellington Management Group and Arrowstreet Capital dramatically increasing their holdings in Proto Labs.

Craig Hallum upgraded shares of Proto Labs (NYSE:PRLB - Free Report) from a hold rating to a buy rating in a report issued on Friday, Marketbeat reports. They currently have $54.00 price target on the industrial products company's stock.

Separately, Wall Street Zen upgraded Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

Proto Labs Price Performance

Shares of NYSE PRLB traded up $0.78 during midday trading on Friday, reaching $44.13. 165,200 shares of the stock traded hands, compared to its average volume of 215,086. The stock has a market capitalization of $1.05 billion, a PE 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 50 day moving average is $39.41 and its 200 day moving average is $38.62.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $128.05 million. Proto Labs had a return on equity of 2.22% and a net margin of 2.91%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, equities analysts forecast that Proto Labs will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Proto Labs

Several large investors have recently modified their holdings of PRLB. PNC Financial Services Group Inc. grew its position in Proto Labs by 14.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,165 shares of the industrial products company's stock valued at $76,000 after acquiring an additional 267 shares during the last quarter. American Century Companies Inc. grew its position in Proto Labs by 0.8% in the 4th quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company's stock valued at $2,055,000 after acquiring an additional 404 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Proto Labs by 0.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,626 shares of the industrial products company's stock valued at $3,152,000 after acquiring an additional 437 shares during the last quarter. State of Alaska Department of Revenue grew its position in Proto Labs by 4.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,137 shares of the industrial products company's stock valued at $565,000 after acquiring an additional 556 shares during the last quarter. Finally, CWM LLC grew its position in Proto Labs by 50.4% in the 1st quarter. CWM LLC now owns 1,840 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 617 shares during the last quarter. 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.