Proto Labs (NYSE:PRLB) Hits New 52-Week High – Here’s What Happened

Proto Labs, Inc. (NYSE:PRLB)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $41.88 and last traded at $41.88, with a volume of 101 shares. The stock had previously closed at $41.50.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRLB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Proto Labs in a research report on Monday, November 4th. Craig Hallum boosted their price target on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Proto Labs has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Proto Labs Stock Down 0.0 %

The firm has a 50 day simple moving average of $31.84 and a 200-day simple moving average of $31.23. The stock has a market cap of $1.01 billion, a P/E ratio of 43.73 and a beta of 1.32.

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

Insider Buying and Selling

In other news, CEO Robert Bodor purchased 3,480 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $28.68 per share, with a total value of $99,806.40. Following the acquisition, the chief executive officer now owns 80,878 shares in the company, valued at approximately $2,319,581.04. This trade represents a 4.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Proto Labs

Institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its stake 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 worth $512,000 after purchasing an additional 8,390 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Proto Labs by 58.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,969 shares of the industrial products company’s stock valued at $397,000 after buying an additional 4,410 shares during the period. Vanguard Group Inc. grew its position in Proto Labs by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock worth $106,541,000 after buying an additional 57,894 shares in the last quarter. QRG Capital Management Inc. increased its stake in Proto Labs by 12.5% during the 2nd quarter. QRG Capital Management Inc. now owns 32,644 shares of the industrial products company’s stock worth $1,008,000 after acquiring an additional 3,624 shares during the period. Finally, Diversified Trust Co raised its holdings in Proto Labs by 9.2% in the 2nd quarter. Diversified Trust Co now owns 8,431 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 707 shares in the last quarter. 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.