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Proto Labs (NYSE:PRLB - Get Rating) had its target price reduced by investment analysts at Craig Hallum to $42.00 in a note issued to investors on Monday, Stock Target Advisor reports. Craig Hallum's target price points to a potential downside of 8.76% from the company's current price.

Separately, StockNews.com upgraded Proto Labs from a "hold" rating to a "buy" rating in a research note on Monday, August 8th.Proto Labs Stock Performance

Shares of PRLB traded down $0.40 during mid-day trading on Monday, reaching $46.03. 195,659 shares of the company were exchanged, compared to its average volume of 217,479. The stock has a market capitalization of $1.27 billion, a PE ratio of 52.31 and a beta of 1.28. The business has a 50 day simple moving average of $47.52 and a two-hundred day simple moving average of $49.01. Proto Labs has a 52 week low of $39.36 and a 52 week high of $79.27.

Proto Labs (NYSE:PRLB - Get Rating) last announced its earnings results on Friday, August 5th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The company had revenue of $126.90 million for the quarter, compared to analysts' expectations of $127.28 million. Proto Labs had a return on equity of 2.95% and a net margin of 4.88%. Proto Labs's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, analysts predict that Proto Labs will post 0.79 EPS for the current year. Hedge Funds Weigh In On Proto Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Proto Labs by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 2,848,640 shares of the industrial products company's stock worth $150,693,000 after purchasing an additional 137,885 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Proto Labs by 3.9% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,860,976 shares of the industrial products company's stock valued at $98,446,000 after acquiring an additional 69,043 shares during the period. State Street Corp boosted its holdings in Proto Labs by 8.2% during the 2nd quarter. State Street Corp now owns 1,120,464 shares of the industrial products company's stock valued at $53,603,000 after acquiring an additional 85,135 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Proto Labs by 11.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,076,037 shares of the industrial products company's stock valued at $51,478,000 after acquiring an additional 111,440 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its position in Proto Labs by 11.6% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,076,037 shares of the industrial products company's stock valued at $43,041,000 after purchasing an additional 111,440 shares during the last quarter. 93.35% of the stock is currently owned by hedge funds and other institutional investors. About Proto Labs (Get Rating)

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.Read MoreGet a free copy of the StockNews.com research report on Proto Labs (PRLB)The Five Hottest Calls From The Q2 Earnings Season Here is a Simple 4 Stock Portfolio that Can Outperform the MarketIs AMC Entertainment Pulling a Fast One on the APEs?The Institutions Trim Holdings Of High-Yielding Foot Locker, IncHere’s How the Inflation Reduction Act Energizes Power Stock

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