Proto Labs (NYSE:PRLB) Downgraded to Buy at StockNews.com

Proto Labs (NYSE:PRLB) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Other research analysts have also issued reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Proto Labs in a research note on Wednesday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Monday. Craig Hallum decreased their price objective on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating for the company in a report on Monday, May 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $44.00 price objective on shares of Proto Labs in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Proto Labs has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Proto Labs Trading Up 1.0 %

NYSE:PRLB traded up $0.27 on Monday, hitting $28.66. The company had a trading volume of 464,961 shares, compared to its average volume of 162,942. The stock has a market capitalization of $725.67 million, a price-to-earnings ratio of 37.22 and a beta of 1.33. The firm has a 50 day moving average of $31.53 and a two-hundred day moving average of $33.34. Proto Labs has a 52 week low of $23.01 and a 52 week high of $41.87.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The firm had revenue of $127.89 million during the quarter, compared to analysts’ expectations of $123.81 million. As a group, equities analysts forecast that Proto Labs will post 0.69 EPS for the current year.

Hedge Funds Weigh In On Proto Labs

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of Proto Labs by 3,795.7% in the 4th quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 873 shares during the last quarter. Innealta Capital LLC purchased a new position in Proto Labs during the 2nd quarter valued at $40,000. Headlands Technologies LLC increased its position in Proto Labs by 224.0% during 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. Allspring Global Investments Holdings LLC purchased a new position in Proto Labs during the 1st quarter valued at $110,000. Finally, Shell Asset Management Co. purchased a new stake in shares of Proto Labs in the 1st quarter worth about $132,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

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.