Proto Labs (NYSE:PRLB) Earns Hold Rating from Needham & Company LLC

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

Several other research analysts have also issued reports on PRLB. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 target price on shares of Proto Labs in a research note on Monday, November 4th. Craig Hallum boosted their price objective on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Stock Down 6.5 %

Shares of PRLB stock traded down $2.91 during mid-day trading on Friday, reaching $41.48. 490,267 shares of the stock traded hands, compared to its average volume of 214,157. The stock’s fifty day simple moving average is $40.70 and its two-hundred day simple moving average is $34.71. Proto Labs has a 1-year low of $25.75 and a 1-year high of $46.73. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 44.41 and a beta of 1.45.

Institutional Investors Weigh In On Proto Labs

A number of hedge funds have recently made changes to their positions in the business. KBC Group NV raised its holdings in Proto Labs by 69.3% during the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock valued at $45,000 after buying an additional 631 shares during the last quarter. Modus Advisors LLC bought a new position in Proto Labs during the 4th quarter valued at approximately $87,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Proto Labs by 40.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock worth $121,000 after buying an additional 1,186 shares during the period. Meeder Asset Management Inc. grew its position in shares of Proto Labs by 72.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,873 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Proto Labs during the third quarter valued at approximately $201,000. 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.