Proto Labs (NYSE:PRLB) Price Target Cut to $34.00

Proto Labs (NYSE:PRLB) had its price objective dropped by analysts at Craig Hallum from $38.00 to $34.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Craig Hallum’s target price indicates a potential upside of 7.22% from the company’s current price.

A number of other brokerages have also recently commented on PRLB. StockNews.com raised Proto Labs from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Monday.

Proto Labs Stock Up 2.0 %

Proto Labs stock traded up $0.62 on Monday, hitting $31.71. The company’s stock had a trading volume of 72,178 shares, compared to its average volume of 156,217. Proto Labs has a one year low of $23.01 and a one year high of $41.87. The firm has a market cap of $810.51 million, a P/E ratio of 41.04 and a beta of 1.36. The company has a fifty day moving average price of $34.01 and a 200-day moving average price of $34.77.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The business had revenue of $125.10 million during the quarter, compared to the consensus estimate of $122.81 million. During the same period in the prior year, the firm earned ($4.24) earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that Proto Labs will post 0.94 EPS for the current year.

Institutional Trading of Proto Labs

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB increased its position in Proto Labs by 34.2% during the 3rd quarter. Nordea Investment Management AB now owns 147,743 shares of the industrial products company’s stock valued at $3,884,000 after purchasing an additional 37,642 shares during the period. Brandywine Global Investment Management LLC bought a new stake in Proto Labs during the third quarter valued at $2,090,000. Caxton Associates LP acquired a new stake in Proto Labs during the 3rd quarter worth about $587,000. Charles Schwab Investment Management Inc. grew its holdings in Proto Labs by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,196 shares of the industrial products company’s stock worth $10,169,000 after acquiring an additional 18,372 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Proto Labs in the 3rd quarter worth about $1,130,000. 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.