Proto Labs (NYSE:PRLB) had its price target lowered by stock analysts at Benchmark from $235.00 to $135.00 in a research note issued on Tuesday, The Fly reports. Benchmark’s price target points to a potential upside of 31.41% from the stock’s current price.
PRLB has been the topic of several other research reports. Zacks Investment Research upgraded shares of Proto Labs from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 31st. Craig Hallum upped their target price on shares of Proto Labs from $105.00 to $167.00 in a research note on Wednesday, January 20th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research note on Tuesday, February 16th. Finally, TheStreet cut shares of Proto Labs from a “b-” rating to a “c+” rating in a research note on Tuesday, February 23rd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Proto Labs presently has a consensus rating of “Hold” and a consensus price target of $150.67.
Shares of NYSE:PRLB traded down $3.94 during midday trading on Tuesday, reaching $102.73. The company’s stock had a trading volume of 22,773 shares, compared to its average volume of 585,573. The firm has a 50 day moving average of $116.49 and a 200-day moving average of $148.18. The firm has a market capitalization of $2.84 billion, a P/E ratio of 48.91 and a beta of 1.96. Proto Labs has a 12-month low of $92.19 and a 12-month high of $286.57.
Institutional investors have recently added to or reduced their stakes in the stock. Hoese & Co LLP purchased a new stake in Proto Labs in the 4th quarter worth approximately $31,000. IFP Advisors Inc grew its holdings in Proto Labs by 144.2% during the 1st quarter. IFP Advisors Inc now owns 210 shares of the industrial products company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Archer Investment Corp purchased a new stake in Proto Labs during the 4th quarter valued at approximately $37,000. Vantage Consulting Group Inc purchased a new stake in Proto Labs during the 4th quarter valued at approximately $39,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Proto Labs during the 1st quarter valued at approximately $37,000.
Proto Labs Company Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.
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