Proto Labs (NYSE:PRLB) Shares Cross Above 200-Day Moving Average – Time to Sell?

Proto Labs, Inc. (NYSE:PRLB) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $34.26 and traded as high as $41.53. Proto Labs shares last traded at $41.38, with a volume of 169,867 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Thursday, January 16th. Craig Hallum increased their price target on shares of Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a 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, Proto Labs currently has an average rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Price Performance

The firm’s 50 day moving average price is $40.42 and its 200-day moving average price is $34.26. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 44.02 and a beta of 1.45.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. The firm had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $121.38 million. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. Proto Labs’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. Analysts expect that Proto Labs, Inc. will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRLB. KBC Group NV lifted its holdings in shares of Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 631 shares during the period. Modus Advisors LLC acquired a new stake in Proto Labs in the fourth quarter worth about $87,000. Point72 Asia Singapore Pte. Ltd. increased its position in Proto Labs by 40.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 1,186 shares during the period. Meeder Asset Management Inc. increased its position in Proto Labs by 72.3% in 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 during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Proto Labs during the 3rd quarter worth about $201,000. 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.