Proto Labs (NYSE:PRLB) Price Target Lowered to $34.00 at Craig Hallum

Proto Labs (NYSE:PRLB) had its price objective cut by Craig Hallum from $38.00 to $34.00 in a report released on Monday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

PRLB has been the topic of several other reports. Needham & Company LLC restated a hold rating on shares of Proto Labs in a research note on Monday. StockNews.com upgraded Proto Labs from a buy rating to a strong-buy rating in a research note on Friday, February 2nd.

Proto Labs Stock Performance

NYSE PRLB opened at $31.68 on Monday. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87. The stock has a market capitalization of $809.74 million, a PE ratio of 40.74 and a beta of 1.36. The stock has a 50-day simple moving average of $33.88 and a 200 day simple moving average of $34.81.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, February 9th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The business had revenue of $125.10 million for the quarter, compared to analyst estimates of $122.81 million. During the same period in the prior year, the firm posted ($4.24) EPS. Proto Labs’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Proto Labs will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Proto Labs

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in shares of Proto Labs by 8.1% in the 1st quarter. Empowered Funds LLC now owns 79,451 shares of the industrial products company’s stock valued at $2,840,000 after purchasing an additional 5,950 shares during the period. Texas Permanent School Fund Corp grew its position in Proto Labs by 2.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 534 shares during the last quarter. Nordea Investment Management AB grew its position in Proto Labs by 0.9% during the 1st quarter. Nordea Investment Management AB now owns 170,015 shares of the industrial products company’s stock worth $6,115,000 after acquiring an additional 1,551 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Proto Labs during the 1st quarter worth approximately $469,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Proto Labs during the 1st quarter worth approximately $110,000. 84.54% of the stock is currently owned by institutional investors.

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.