Proto Labs (NYSE:PRLB) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Proto Labs (NYSE:PRLBGet Rating) announced its earnings results on Friday. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07, reports. The business had revenue of $126.90 million during the quarter, compared to the consensus estimate of $127.28 million. Proto Labs had a net margin of 4.88% and a return on equity of 2.95%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share.

Proto Labs Trading Down 0.7 %

Shares of PRLB traded down $0.32 during mid-day trading on Monday, reaching $46.58. The company had a trading volume of 247,940 shares, compared to its average volume of 218,561. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 52.93 and a beta of 1.28. The firm has a fifty day simple moving average of $47.77 and a 200-day simple moving average of $49.09. Proto Labs has a fifty-two week low of $39.36 and a fifty-two week high of $82.98.

Analyst Ratings Changes

Separately, Craig Hallum dropped their target price on shares of Proto Labs from $56.00 to $50.00 in a report on Monday, May 9th.

Institutional Investors Weigh In On Proto Labs

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its holdings in shares of Proto Labs by 63.4% during the first quarter. Federated Hermes Inc. now owns 461,748 shares of the industrial products company’s stock valued at $24,426,000 after acquiring an additional 179,112 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $150,693,000 after buying an additional 137,885 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Proto Labs by 34.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 426,194 shares of the industrial products company’s stock worth $22,547,000 after purchasing an additional 108,638 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Proto Labs during the 1st quarter worth about $3,940,000. Finally, State Street Corp boosted its stake in shares of Proto Labs by 3.7% in the 1st quarter. State Street Corp now owns 1,035,329 shares of the industrial products company’s stock valued at $54,769,000 after purchasing an additional 37,314 shares during the last quarter. Institutional investors own 93.35% of the company’s stock.

About Proto Labs

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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.

Further Reading

Earnings History for Proto Labs (NYSE:PRLB)

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