Proto Labs (NYSE:PRLB) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Proto Labs from a "buy" rating to a "strong-buy" rating, indicating positive analyst sentiment about the stock's potential.
• Proto Labs recently reported earnings of $0.41 per share, surpassing analyst expectations, and saw a 7.6% revenue increase year-over-year.
• Institutional ownership of Proto Labs is strong, with 84.54% of the stock held by institutional investors and hedge funds, showing confidence in the company's prospects.

Proto Labs (NYSE:PRLB - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Craig Hallum upgraded Proto Labs from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a research note on Friday. Cantor Fitzgerald increased their price target on shares of Proto Labs from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday.

Proto Labs Trading Up 0.1%

Shares of NYSE PRLB traded up $0.04 during mid-day trading on Friday, reaching $43.23. The company had a trading volume of 233,749 shares, compared to its average volume of 215,717. The firm has a 50 day simple moving average of $39.29 and a two-hundred day simple moving average of $38.59. Proto Labs has a 52-week low of $25.75 and a 52-week high of $46.73. The stock has a market cap of $1.03 billion, a P/E ratio of 72.05 and a beta of 1.33.

Proto Labs (NYSE:PRLB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating 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 company had revenue of $135.06 million during the quarter, compared to the consensus estimate of $128.05 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Proto Labs's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts expect that Proto Labs will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PRLB. American Century Companies Inc. increased its holdings in shares of 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 purchasing an additional 404 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Proto Labs in the 4th quarter worth approximately $192,000. LPL Financial LLC purchased a new position in Proto Labs in the 4th quarter valued at approximately $210,000. Norges Bank purchased a new stake in Proto Labs during the fourth quarter worth $1,947,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Proto Labs by 348.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 212,914 shares of the industrial products company's stock worth $8,323,000 after purchasing an additional 165,396 shares in the last quarter. 84.54% of the stock is owned by hedge funds and other 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.