Proto Labs (NYSE:PRLB) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Proto Labs (NYSE:PRLB) in a report released on Monday, Benzinga reports.

Separately, StockNews.com upgraded Proto Labs from a buy rating to a strong-buy rating in a research note on Friday, February 2nd.

Proto Labs Trading Up 1.9 %

Shares of PRLB opened at $32.29 on Monday. The company has a market cap of $817.45 million, a price-to-earnings ratio of 41.94 and a beta of 1.36. The company’s fifty day simple moving average is $33.58 and its 200 day simple moving average is $34.82. Proto Labs has a 1-year low of $23.01 and a 1-year high of $41.87.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its holdings in shares of Proto Labs by 58.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,969 shares of the industrial products company’s stock worth $397,000 after acquiring an additional 4,410 shares during the period. QRG Capital Management Inc. lifted its holdings in Proto Labs by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 29,020 shares of the industrial products company’s stock worth $1,037,000 after purchasing an additional 3,084 shares during the last quarter. Headlands Technologies LLC boosted its stake in Proto Labs by 224.0% in the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,295 shares during the period. Sei Investments Co. grew its holdings in Proto Labs by 141.7% in the 1st quarter. Sei Investments Co. now owns 14,311 shares of the industrial products company’s stock valued at $512,000 after buying an additional 8,390 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Proto Labs by 8.1% during the 1st quarter. Empowered Funds LLC now owns 79,451 shares of the industrial products company’s stock worth $2,840,000 after buying an additional 5,950 shares during the period. 84.54% of the stock is 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.