Craig Hallum Issues Positive Forecast for Proto Labs (NYSE:PRLB) Stock Price

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

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

Proto Labs Stock Down 2.1 %

Proto Labs stock 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 company has a market capitalization of $971.04 million, a P/E ratio of 41.07 and a beta of 1.32. The stock’s 50 day moving average is $29.50 and its 200 day moving average is $30.60.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The firm had revenue of $125.60 million during the quarter, compared to the consensus estimate of $121.38 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. As a group, equities analysts expect that Proto Labs will post 0.7 EPS for the current year.

Insider Buying and Selling

In other Proto Labs news, CEO Robert Bodor purchased 3,480 shares of the company’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 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. lifted its holdings in Proto Labs by 17.7% during the first quarter. Hillsdale Investment Management Inc. now owns 118,094 shares of the industrial products company’s stock valued at $4,222,000 after purchasing an additional 17,720 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Proto Labs by 89.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 147,011 shares of the industrial products company’s stock valued at $5,256,000 after buying an additional 69,347 shares in the last quarter. Marshall Wace LLP boosted its holdings in Proto Labs by 81.6% in the 2nd 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 period. Acadian Asset Management LLC purchased a new stake in Proto Labs in the 1st quarter worth $1,560,000. Finally, Vanguard Group Inc. raised its holdings in 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 period. 84.54% of the stock is owned by hedge funds and other institutional investors.

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.