Proto Labs (NYSE:PRLB) Price Target Cut to $50.00 by Analysts at Craig Hallum

Proto Labs (NYSE:PRLBGet Rating) had its target price decreased by research analysts at Craig Hallum from $56.00 to $50.00 in a research report issued to clients and investors on Monday, The Fly reports. Craig Hallum’s price objective suggests a potential upside of 8.86% from the company’s previous close.

A number of other research analysts have also issued reports on PRLB. StockNews.com began coverage on Proto Labs in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Proto Labs from a “sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.50.

NYSE:PRLB opened at $45.93 on Monday. Proto Labs has a 12-month low of $41.73 and a 12-month high of $104.99. The firm has a market capitalization of $1.26 billion, a P/E ratio of 36.45 and a beta of 1.43. The business has a 50 day simple moving average of $49.79 and a 200 day simple moving average of $52.72.

Proto Labs (NYSE:PRLBGet Rating) last released its quarterly earnings data on Friday, May 6th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. Proto Labs had a return on equity of 4.05% and a net margin of 6.84%. The business had revenue of $124.20 million during the quarter, compared to analyst estimates of $122.03 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Proto Labs will post 0.51 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Antonetti Capital Management LLC lifted its holdings in shares of Proto Labs by 84.5% in the fourth quarter. Antonetti Capital Management LLC now owns 524 shares of the industrial products company’s stock valued at $27,000 after buying an additional 240 shares during the period. Signaturefd LLC raised its position in shares of Proto Labs by 1,680.6% during the fourth quarter. Signaturefd LLC now owns 552 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 521 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Proto Labs during the fourth quarter worth $28,000. Hardy Reed LLC acquired a new stake in shares of Proto Labs during the first quarter worth $30,000. Finally, Concord Wealth Partners raised its position in shares of Proto Labs by 129.3% during the fourth quarter. Concord Wealth Partners now owns 633 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 93.35% of the company’s stock.

About Proto Labs (Get Rating)

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.

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