Proto Labs (NYSE:PRLB) Sets New 52-Week High – What’s Next?

Proto Labs, Inc. (NYSE:PRLB) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $46.00 and last traded at $46.45, with a volume of 11293 shares changing hands. The stock had previously closed at $44.39.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research report on Thursday, January 16th. Craig Hallum raised their price target on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Proto Labs Stock Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 46.84 and a beta of 1.45. The company’s 50-day moving average price is $40.70 and its 200 day moving average price is $34.71.

Institutional Investors Weigh In On Proto Labs

Large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Proto Labs by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 35,489 shares of the industrial products company’s stock valued at $1,096,000 after purchasing an additional 15,230 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Proto Labs by 22.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock worth $8,807,000 after buying an additional 55,932 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Proto Labs during the third quarter worth approximately $524,000. KBC Group NV grew its holdings in Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 631 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in Proto Labs by 72.3% during the third quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 1,873 shares in 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.