Proto Labs (NYSE:PRLB) Price Target Raised to $36.00

Proto Labs (NYSE:PRLB) had its price objective hoisted by Craig Hallum from $30.00 to $36.00 in a report released on Monday morning, Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Friday, November 1st. Finally, StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Stock Up 12.2 %

PRLB stock opened at $39.44 on Monday. The company has a market cap of $991.92 million, a price-to-earnings ratio of 41.96 and a beta of 1.32. The business has a fifty day simple moving average of $29.33 and a 200-day simple moving average of $30.54. Proto Labs has a 52 week low of $25.75 and a 52 week high of $41.87.

Proto Labs (NYSE:PRLB) last announced 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. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The firm had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $121.38 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was down 3.9% on a year-over-year basis. As a group, analysts expect that Proto Labs will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Proto Labs

In related news, CEO Robert Bodor bought 3,480 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the purchase, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Proto Labs

Institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board acquired a new stake in Proto Labs during the second quarter worth about $37,000. Innealta Capital LLC acquired a new stake in Proto Labs during the second quarter worth about $40,000. KBC Group NV raised its stake in Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 631 shares during the period. Headlands Technologies LLC raised its stake in Proto Labs by 224.0% during the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,295 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Proto Labs during the second quarter worth about $80,000. 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.