Proto Labs (NYSE:PRLB) Price Target Raised to $51.00

Proto Labs (NYSE:PRLB) had its price objective boosted by Cantor Fitzgerald from $50.00 to $51.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities analysts have also commented on the stock. Craig Hallum raised shares of Proto Labs from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday. Wall Street Zen raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th.

Proto Labs Price Performance

NYSE:PRLB opened at $43.27 on Friday. The firm has a 50 day simple moving average of $39.29 and a 200-day simple moving average of $38.59. The firm has a market cap of $1.03 billion, a PE ratio of 72.12 and a beta of 1.33. Proto Labs has a 1-year low of $25.75 and a 1-year high of $46.73.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. Proto Labs had a net margin of 2.91% and a return on equity of 2.22%. The business had revenue of $135.06 million during the quarter, compared to analyst estimates of $128.05 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Proto Labs will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Proto Labs

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in Proto Labs by 14.1% during the first quarter. PNC Financial Services Group Inc. now owns 2,165 shares of the industrial products company’s stock worth $76,000 after buying an additional 267 shares during the period. American Century Companies Inc. grew its stake in Proto Labs by 0.8% during the fourth quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company’s stock worth $2,055,000 after buying an additional 404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Proto Labs by 0.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,626 shares of the industrial products company’s stock worth $3,152,000 after buying an additional 437 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Proto Labs by 4.1% in the second quarter. State of Alaska Department of Revenue now owns 14,137 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 556 shares during the period. Finally, CWM LLC grew its holdings in Proto Labs by 50.4% during the 1st quarter. CWM LLC now owns 1,840 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 617 shares in the last quarter. 84.54% of the stock is currently 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.