Proto Labs (NYSE:PRLB) Shares Cross Above 200-Day Moving Average – Time to Sell?

Proto Labs, Inc. (NYSE:PRLB) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.26 and traded as high as $41.53. Proto Labs shares last traded at $41.38, with a volume of 169,867 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRLB shares. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Thursday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a research note on Monday, November 4th. Finally, Craig Hallum raised 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Proto Labs currently has an average rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Price Performance

The company’s 50-day moving average is $40.42 and its 200-day moving average is $34.26. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 44.02 and a beta of 1.45.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $121.38 million. During the same quarter last year, the firm posted $0.31 earnings per share. Proto Labs’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Proto Labs, Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of 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. Public Sector Pension Investment Board increased its stake in shares of Proto Labs by 4.0% in the second quarter. Public Sector Pension Investment Board now owns 55,659 shares of the industrial products company’s stock worth $1,719,000 after buying an additional 2,149 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Proto Labs in the second quarter worth $629,000. Marshall Wace LLP increased its stake in shares of Proto Labs by 81.6% in the second quarter. Marshall Wace LLP now owns 42,800 shares of the industrial products company’s stock worth $1,322,000 after buying an additional 19,232 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Proto Labs by 75.2% in the second quarter. AQR Capital Management LLC now owns 35,489 shares of the industrial products company’s stock worth $1,096,000 after buying an additional 15,230 shares during the last quarter. Hedge funds and other 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.