Proto Labs’ (PRLB) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Proto Labs (NYSE:PRLB) in a report issued on Monday morning, Benzinga reports. They currently have a $40.00 price objective on the industrial products company’s stock.

A number of other research firms have also recently commented on PRLB. StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Proto Labs currently has an average rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Trading Up 12.2 %

PRLB opened at $39.44 on Monday. The company’s 50 day moving average is $29.33 and its 200 day moving average is $30.54. The company has a market cap of $991.92 million, a price-to-earnings ratio of 41.96 and a beta of 1.32. Proto Labs has a 12-month low of $25.75 and a 12-month high of $41.87.

Proto Labs (NYSE:PRLB) last announced its earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The company had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $121.38 million. During the same period last year, the firm earned $0.31 EPS. Proto Labs’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts predict that Proto Labs will post 0.7 EPS for the current fiscal year.

Insider Activity at Proto Labs

In related news, CEO Robert Bodor purchased 3,480 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the purchase, the chief executive officer now directly owns 80,878 shares in the company, valued at $2,319,581.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRLB. Canada Pension Plan Investment Board bought a new position in Proto Labs during the second quarter valued at $37,000. Innealta Capital LLC purchased a new position in Proto Labs in the second quarter worth about $40,000. KBC Group NV increased its stake in Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 631 shares during the last quarter. Headlands Technologies LLC raised its position in Proto Labs by 224.0% during the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,295 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Proto Labs in the 2nd quarter valued at approximately $80,000. 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.