Proto Labs (NYSE:PRLB) Issues Earnings Results

Proto Labs (NYSE:PRLB) released its quarterly earnings data on Friday. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15, RTT News reports. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The firm had revenue of $125.60 million during the quarter, compared to the consensus estimate of $121.38 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Proto Labs updated its Q4 guidance to $0.15-0.18 EPS and its Q4 2024 guidance to 0.280-0.360 EPS.

Proto Labs Stock Up 38.7 %

Shares of NYSE PRLB opened at $38.00 on Friday. Proto Labs has a fifty-two week low of $23.73 and a fifty-two week high of $41.87. The firm’s 50-day simple moving average is $28.99 and its 200 day simple moving average is $30.45. The stock has a market cap of $955.70 million, a P/E ratio of 39.58 and a beta of 1.32.

Insider Activity at Proto Labs

In other Proto Labs news, CEO Robert Bodor purchased 3,480 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the transaction, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRLB. Cantor Fitzgerald reissued an “overweight” rating and set a $44.00 price target on shares of Proto Labs in a report on Tuesday, July 30th. StockNews.com downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Friday. 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, Proto Labs currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Proto Labs Company 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.