Proto Labs (NYSE:PRLB) Issues Earnings Results, Beats Estimates By $0.15 EPS

Proto Labs (NYSE:PRLB) issued its quarterly earnings data on Friday. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15, RTT News reports. The business had revenue of $125.60 million during the quarter, compared to the consensus estimate of $121.38 million. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. 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 Price Performance

NYSE PRLB traded up $10.63 during trading hours on Friday, hitting $38.03. 1,562,616 shares of the company’s stock traded hands, compared to its average volume of 190,442. Proto Labs has a 52-week low of $23.73 and a 52-week high of $41.87. The company has a market capitalization of $956.45 million, a PE ratio of 39.58 and a beta of 1.31. The firm’s 50-day moving average is $28.84 and its 200-day moving average is $30.41.

Analyst Ratings Changes

A number of research firms have recently commented on PRLB. Cantor Fitzgerald reissued an “overweight” rating and set a $44.00 target price on shares of Proto Labs in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Friday. Finally, StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Insider Activity at Proto Labs

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 80,878 shares in the company, valued at approximately $2,319,581.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.