Proto Labs’ (PRLB) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Proto Labs (NYSE:PRLB) in a research report sent to investors on Monday morning, Benzinga reports.

PRLB has been the subject of a number of other research reports. Cantor Fitzgerald reissued an overweight rating and issued a $44.00 target price on shares of Proto Labs in a research report on Tuesday, July 30th. Benchmark reissued a buy rating and set a $45.00 price target on shares of Proto Labs in a report on Wednesday, May 29th. Finally, Craig Hallum dropped their price target on Proto Labs from $38.00 to $34.00 and set a hold rating on the stock in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $41.25.

Proto Labs Stock Performance

Shares of NYSE:PRLB traded up $0.91 during trading on Monday, reaching $29.57. 341,166 shares of the stock traded hands, compared to its average volume of 164,273. The stock has a market cap of $748.59 million, a P/E ratio of 37.22 and a beta of 1.33. The stock 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 issued its earnings results on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The business had revenue of $125.60 million for the quarter, compared to the consensus estimate of $126.25 million. During the same period last year, the business posted ($0.01) EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Proto Labs will post 0.69 earnings per share for the current year.

Institutional Investors Weigh In On Proto Labs

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in 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 in the last quarter. Innealta Capital LLC bought a new position in shares of Proto Labs in the second quarter worth approximately $40,000. Headlands Technologies LLC boosted its position in shares of Proto Labs by 224.0% in the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,295 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Proto Labs in the first quarter worth $110,000. Finally, Shell Asset Management Co. bought a new stake in shares of Proto Labs during the 1st quarter valued at $132,000. 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.