Proto Labs (NYSE:PRLB) Upgraded to "Hold" by Craig Hallum

Proto Labs (NYSE:PRLB - Get Free Report) was upgraded by Craig Hallum from a "sell" rating to a "hold" rating in a report issued on Friday, Marketbeat.com reports.

Separately, StockNews.com upgraded shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Proto Labs has a consensus rating of "Buy" and a consensus price target of $36.67.

Check Out Our Latest Report on Proto Labs

NYSE PRLB traded down $1.25 during trading on Friday, reaching $30.54. The company's stock had a trading volume of 307,486 shares, compared to its average volume of 202,831. The stock has a market capitalization of $800.15 million, a PE ratio of -7.89 and a beta of 1.20. The business has a 50-day moving average price of $34.02 and a 200-day moving average price of $32.15. Proto Labs has a 1-year low of $22.04 and a 1-year high of $53.00.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its earnings results on Friday, May 5th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. Proto Labs had a negative net margin of 21.61% and a negative return on equity of 14.06%. The firm had revenue of $125.86 million during the quarter, compared to analysts' expectations of $118.24 million. As a group, analysts expect that Proto Labs will post 0.47 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of PRLB. Allspring Global Investments Holdings LLC raised its stake in shares of Proto Labs by 2,422.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 20,864 shares of the industrial products company's stock valued at $533,000 after buying an additional 20,037 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Proto Labs in the 4th quarter valued at $434,000. Cornercap Investment Counsel Inc. raised its stake in shares of Proto Labs by 94.0% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,783 shares of the industrial products company's stock valued at $1,067,000 after buying an additional 20,248 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Proto Labs by 1,212.5% in the 4th quarter. Jupiter Asset Management Ltd. now owns 108,003 shares of the industrial products company's stock valued at $2,756,000 after buying an additional 99,774 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Proto Labs by 0.6% in the 4th quarter. Schroder Investment Management Group now owns 494,240 shares of the industrial products company's stock valued at $12,618,000 after buying an additional 2,740 shares in the last quarter. Institutional investors own 84.70% of the company's stock.

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce 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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