Craig Hallum Trims Proto Labs (NYSE:PRLB) Target Price to $34.00

Proto Labs (NYSE:PRLB) had its target price lowered by Craig Hallum from $38.00 to $34.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other brokerages have also commented on PRLB. StockNews.com raised shares of Proto Labs from a buy rating to a strong-buy rating in a research report on Friday, February 2nd. Needham & Company LLC restated a hold rating on shares of Proto Labs in a report on Monday.

Proto Labs Stock Up 0.7 %

Shares of Proto Labs stock opened at $31.70 on Monday. The stock’s fifty day moving average is $33.67 and its two-hundred day moving average is $34.83. Proto Labs has a 52 week low of $23.01 and a 52 week high of $41.87. The company has a market capitalization of $802.52 million, a PE ratio of 41.17 and a beta of 1.36.

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

Institutional Investors Weigh In On Proto Labs

Several hedge funds have recently modified their holdings of PRLB. Illinois Municipal Retirement Fund bought a new position in Proto Labs in the third quarter worth approximately $419,000. Jump Financial LLC increased its holdings in shares of Proto Labs by 1.9% in the 3rd quarter. Jump Financial LLC now owns 18,333 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 342 shares during the period. Quantbot Technologies LP raised its position in shares of Proto Labs by 185.0% in the 3rd quarter. Quantbot Technologies LP now owns 13,679 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 8,879 shares in the last quarter. Swiss National Bank raised its position in shares of Proto Labs by 0.9% in the 3rd quarter. Swiss National Bank now owns 57,600 shares of the industrial products company’s stock worth $1,521,000 after acquiring an additional 500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Proto Labs by 5.0% during 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 last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Company Profile

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.