Needham & Company LLC Reiterates “Hold” Rating for Proto Labs (NYSE:PRLB)

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

Separately, StockNews.com raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd.

Proto Labs Stock Up 0.4 %

PRLB opened at $31.50 on Monday. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87. The company has a market cap of $805.14 million, a PE ratio of 40.91 and a beta of 1.36. The company has a 50-day moving average price of $33.76 and a 200 day moving average price of $34.85.

Proto Labs (NYSE:PRLB) last released its earnings results 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 net margin of 3.92% and a return on equity of 2.88%. The firm had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $122.81 million. During the same quarter last year, the business earned ($4.24) EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that Proto Labs will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Proto Labs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in Proto Labs by 3,795.7% in the 4th quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock valued at $35,000 after buying an additional 873 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Proto Labs during the 1st quarter valued at about $110,000. Tradition Wealth Management LLC grew its holdings in shares of Proto Labs by 7.8% in the fourth quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the period. Victory Capital Management Inc. acquired a new stake in Proto Labs during the fourth quarter worth about $202,000. Finally, Summit Global Investments acquired a new stake in Proto Labs during the fourth quarter worth about $217,000. Institutional investors and hedge funds 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.