Proto Labs (NYSE:PRLB) Price Target Cut to $34.00

Proto Labs (NYSE:PRLB) had its price target lowered by stock analysts at Craig Hallum from $38.00 to $34.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Craig Hallum’s target price indicates a potential upside of 7.94% from the company’s previous close.

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

Proto Labs Price Performance

PRLB opened at $31.50 on Monday. Proto Labs has a fifty-two week low of $23.01 and a fifty-two week high of $41.87. The firm has a market capitalization of $805.14 million, a PE ratio of 40.91 and a beta of 1.36. The company’s 50-day moving average is $33.76 and its 200 day moving average is $34.85.

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

Institutional Investors Weigh In On Proto Labs

Several large investors have recently made changes to their positions in PRLB. Dimensional Fund Advisors LP increased its holdings in Proto Labs by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 811,902 shares of the industrial products company’s stock worth $31,633,000 after buying an additional 34,434 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Proto Labs by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,196 shares of the industrial products company’s stock worth $10,169,000 after purchasing an additional 18,372 shares during the period. Norges Bank purchased a new position in Proto Labs in the fourth quarter valued at approximately $11,382,000. S Squared Technology LLC grew its holdings in Proto Labs by 177.3% during the third quarter. S Squared Technology LLC now owns 251,803 shares of the industrial products company’s stock valued at $6,648,000 after purchasing an additional 161,008 shares during the period. Finally, FMR LLC increased its position in Proto Labs by 21.1% in the third quarter. FMR LLC now owns 234,765 shares of the industrial products company’s stock worth $6,198,000 after buying an additional 40,903 shares during the last quarter. 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.