Cantor Fitzgerald Reiterates Overweight Rating for Proto Labs (NYSE:PRLB)

Cantor Fitzgerald restated their overweight rating on shares of Proto Labs (NYSE:PRLB) in a research report sent to investors on Monday,Benzinga reports. They currently have a $40.00 price objective on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Stock Down 2.1 %

NYSE:PRLB opened at $38.61 on Monday. Proto Labs has a twelve month low of $25.75 and a twelve month high of $41.87. The stock has a market cap of $971.04 million, a P/E ratio of 41.07 and a beta of 1.32. The business’s 50-day moving average price is $29.50 and its two-hundred day moving average price is $30.60.

Proto Labs (NYSE:PRLB) last announced its 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. The business had revenue of $125.60 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts expect that Proto Labs will post 0.7 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert Bodor bought 3,480 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the acquisition, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at $2,319,581.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Proto Labs

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of 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 valued at $106,541,000 after acquiring an additional 57,894 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Proto Labs by 1.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock valued at $60,123,000 after purchasing an additional 36,510 shares during the period. Dimensional Fund Advisors LP raised its position in Proto Labs by 13.3% during the 2nd 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 last quarter. Renaissance Technologies LLC lifted its holdings in Proto Labs by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock worth $13,463,000 after buying an additional 106,423 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Proto Labs by 22.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock worth $8,807,000 after buying an additional 55,932 shares during the last quarter. Institutional investors 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.