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 Thursday morning,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. Craig Hallum boosted their price target on shares of Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a research note 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 MarketBeat.com, Proto Labs has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Trading Up 2.1 %

Shares of NYSE PRLB opened at $39.05 on Thursday. The company has a market cap of $957.02 million, a PE ratio of 41.54 and a beta of 1.45. The company has a 50-day moving average of $40.16 and a two-hundred day moving average of $33.70. Proto Labs has a 1-year low of $25.75 and a 1-year high of $45.15.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRLB. American Century Companies Inc. grew its holdings in Proto Labs by 1.9% during the second quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock valued at $1,326,000 after purchasing an additional 812 shares during the period. Federated Hermes Inc. grew its holdings in Proto Labs by 8.7% during the second quarter. Federated Hermes Inc. now owns 26,762 shares of the industrial products company’s stock valued at $827,000 after purchasing an additional 2,141 shares during the period. Dimensional Fund Advisors LP grew its holdings in Proto Labs by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock valued at $34,305,000 after purchasing an additional 130,670 shares during the period. Renaissance Technologies LLC grew its holdings in Proto Labs by 32.3% during the second quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock valued at $13,463,000 after purchasing an additional 106,423 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Proto Labs by 17.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,969 shares of the industrial products company’s stock valued at $401,000 after buying an additional 1,969 shares during the period. Institutional investors and hedge funds own 84.54% of the company’s stock.

Proto Labs Company Profile

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.