Modus Advisors LLC Acquires New Position in Proto Labs, Inc. (NYSE:PRLB)

Modus Advisors LLC bought a new position in shares of Proto Labs, Inc. (NYSE:PRLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,233 shares of the industrial products company’s stock, valued at approximately $87,000.

Several other large investors have also made changes to their positions in the business. Disciplined Growth Investors Inc. MN increased its holdings in shares of Proto Labs by 5.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,056,593 shares of the industrial products company’s stock worth $60,402,000 after buying an additional 110,244 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Proto Labs by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock worth $34,305,000 after acquiring an additional 130,670 shares during the last quarter. State Street Corp raised its position in Proto Labs by 1.4% during the third quarter. State Street Corp now owns 965,426 shares of the industrial products company’s stock valued at $28,355,000 after purchasing an additional 13,554 shares during the period. Geode Capital Management LLC raised its holdings in Proto Labs by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 585,809 shares of the industrial products company’s stock valued at $17,209,000 after buying an additional 4,285 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Proto Labs by 44,804.1% in the 3rd quarter. Pacer Advisors Inc. now owns 573,874 shares of the industrial products company’s stock worth $16,855,000 after acquiring an additional 572,596 shares during the last quarter. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRLB has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Proto Labs in a research note on Monday, November 4th. Craig Hallum lifted their target price on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Stock Performance

Shares of NYSE PRLB traded up $0.06 during mid-day trading on Friday, hitting $38.81. The stock had a trading volume of 7,415 shares, compared to its average volume of 48,280. The company has a 50 day moving average of $39.01 and a two-hundred day moving average of $33.16. Proto Labs, Inc. has a twelve month low of $25.75 and a twelve month high of $45.15. The firm has a market cap of $951.23 million, a PE ratio of 41.29 and a beta of 1.45.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The business had revenue of $125.60 million during the quarter, compared to the consensus estimate of $121.38 million. During the same period last year, the company earned $0.31 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

Proto Labs Profile

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.