Proto Labs (NYSE:PRLB) Rating Reiterated by Needham & Company LLC

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

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

Proto Labs Stock Performance

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

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position 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 during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Proto Labs in the first quarter valued at approximately $110,000. Tradition Wealth Management LLC increased its holdings in Proto Labs by 7.8% during the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 305 shares during the period. Victory Capital Management Inc. bought a new stake in Proto Labs during the 4th quarter valued at $202,000. Finally, Summit Global Investments purchased a new stake in shares of Proto Labs in the 4th quarter worth $217,000. 84.54% of the stock is currently owned by 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.