Proto Labs’ (PRLB) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Proto Labs (NYSE:PRLB) in a research note issued to investors on Monday, Benzinga reports.

Separately, StockNews.com upgraded Proto Labs from a buy rating to a strong-buy rating in a research report on Friday, February 2nd.

Proto Labs Price Performance

Shares of PRLB stock opened at $31.70 on Monday. Proto Labs has a 12-month low of $23.01 and a 12-month high of $41.87. The firm has a market capitalization of $802.52 million, a price-to-earnings ratio of 41.17 and a beta of 1.36. The business has a 50 day simple moving average of $33.67 and a 200 day simple moving average of $34.83.

Proto Labs (NYSE:PRLB) last released its quarterly 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 business 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%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.24) EPS. On average, equities analysts anticipate that Proto Labs will post 0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tradition Wealth Management LLC boosted its position in shares of Proto Labs by 7.8% in the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the period. Jump Financial LLC boosted its stake in Proto Labs by 1.9% in the 3rd quarter. Jump Financial LLC now owns 18,333 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 342 shares during the period. Diversified Trust Co grew its position in Proto Labs by 5.2% during the 1st quarter. Diversified Trust Co now owns 7,724 shares of the industrial products company’s stock worth $276,000 after purchasing an additional 382 shares in the last quarter. Swiss National Bank raised its stake in Proto Labs by 0.9% during the 3rd quarter. Swiss National Bank now owns 57,600 shares of the industrial products company’s stock valued at $1,521,000 after purchasing an additional 500 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Proto Labs by 2.4% in the first quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 534 shares in the last quarter. Institutional investors and hedge funds 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.