Proto Labs (NYSE:PRLB) PT Lowered to $34.00

Proto Labs (NYSE:PRLB) had its price objective cut by Craig Hallum from $38.00 to $34.00 in a research note published on Monday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Proto Labs from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Needham & Company LLC reissued a hold rating on shares of Proto Labs in a research report on Monday.

Proto Labs Stock Up 1.0 %

PRLB opened at $31.68 on Monday. The firm has a 50 day moving average price of $33.88 and a 200-day moving average price of $34.81. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87. The stock has a market capitalization of $809.74 million, a price-to-earnings ratio of 40.74 and a beta of 1.36.

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

Institutional Trading of Proto Labs

A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in shares of Proto Labs by 8.1% in the 1st quarter. Empowered Funds LLC now owns 79,451 shares of the industrial products company’s stock valued at $2,840,000 after buying an additional 5,950 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in Proto Labs by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 534 shares in the last quarter. Nordea Investment Management AB lifted its stake in Proto Labs by 0.9% during the 1st quarter. Nordea Investment Management AB now owns 170,015 shares of the industrial products company’s stock valued at $6,115,000 after acquiring an additional 1,551 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Proto Labs during the 1st quarter valued at approximately $469,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Proto Labs during the 1st quarter valued at approximately $110,000. 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.