Proto Labs (NYSE:PRLB) PT Lowered to $34.00 at Craig Hallum

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

Other equities analysts have also issued research reports about the stock. 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 reaffirmed a hold rating on shares of Proto Labs in a research report on Monday.

Proto Labs Trading Up 0.7 %

Shares of PRLB stock opened at $31.70 on Monday. The company has a market capitalization of $802.52 million, a price-to-earnings ratio of 41.17 and a beta of 1.36. The firm has a 50-day moving average price of $33.67 and a 200 day moving average price of $34.83. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87.

Proto Labs (NYSE:PRLB) last issued its quarterly 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 business had revenue of $125.10 million during the quarter, compared to analyst estimates of $122.81 million. During the same quarter last year, the firm posted ($4.24) earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts predict that Proto Labs will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PRLB. State Board of Administration of Florida Retirement System increased its position in shares of Proto Labs by 58.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,969 shares of the industrial products company’s stock worth $397,000 after acquiring an additional 4,410 shares in the last quarter. QRG Capital Management Inc. boosted its position in Proto Labs by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 29,020 shares of the industrial products company’s stock worth $1,037,000 after purchasing an additional 3,084 shares during the period. Headlands Technologies LLC boosted its position in Proto Labs by 224.0% during the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,295 shares during the period. Sei Investments Co. increased its holdings in Proto Labs by 141.7% in the 1st quarter. Sei Investments Co. now owns 14,311 shares of the industrial products company’s stock valued at $512,000 after purchasing an additional 8,390 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Proto Labs by 8.1% in the first quarter. Empowered Funds LLC now owns 79,451 shares of the industrial products company’s stock valued at $2,840,000 after purchasing an additional 5,950 shares during the period. Hedge funds and other institutional investors 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.