Proto Labs (NYSE:PRLB) Sets New 12-Month High – Time to Buy?

Proto Labs, Inc. (NYSE:PRLB) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.88 and last traded at $41.88, with a volume of 101 shares changing hands. The stock had previously closed at $41.50.

Wall Street Analyst Weigh In

PRLB has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a report on Monday, November 4th. StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Craig Hallum increased their price target on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Trading Down 0.0 %

The firm has a market cap of $1.01 billion, a P/E ratio of 43.73 and a beta of 1.32. The firm’s 50 day moving average is $31.84 and its two-hundred day moving average is $31.23.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. 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 posted $0.31 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts predict that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor acquired 3,480 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $28.68 per share, with a total value of $99,806.40. Following the completion of the transaction, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. The trade was a 4.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Proto Labs

Several institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in shares of Proto Labs in the second quarter valued at about $37,000. Innealta Capital LLC bought a new stake in Proto Labs in the 2nd quarter valued at approximately $40,000. KBC Group NV boosted its position 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 worth $45,000 after acquiring an additional 631 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Proto Labs during the 2nd quarter worth approximately $80,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Proto Labs by 40.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 1,186 shares during the last quarter. 84.54% of the stock is 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.