Proto Labs’ (PRLB) Hold Rating Reaffirmed at Needham & Company LLC

Proto Labs (NYSE:PRLB)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

A number of other research firms have also commented on PRLB. Craig Hallum lifted their target price on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Trading Down 6.5 %

Proto Labs stock traded down $2.91 during mid-day trading on Friday, hitting $41.48. The company had a trading volume of 490,267 shares, compared to its average volume of 214,157. The stock’s 50 day moving average price is $40.70 and its two-hundred day moving average price is $34.71. The company has a market capitalization of $1.02 billion, a PE ratio of 44.41 and a beta of 1.45. Proto Labs has a 12 month low of $25.75 and a 12 month high of $46.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRLB. KBC Group NV raised its holdings 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 valued at $45,000 after acquiring an additional 631 shares during the period. Modus Advisors LLC bought a new stake in Proto Labs during the 4th quarter valued at approximately $87,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Proto Labs by 40.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 1,186 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Proto Labs by 72.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 1,873 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Proto Labs during the 3rd quarter valued at approximately $201,000. Hedge funds and other 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.