Proto Labs (NYSE:PRLB – Get Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.36-$0.44 for the period. The company issued revenue guidance of $121.00 million-$129.00 million, compared to the consensus revenue estimate of $133.27 million.
Proto Labs Price Performance
Proto Labs stock opened at $44.24 on Monday. The company’s 50-day moving average is $47.20 and its 200-day moving average is $48.88. The firm has a market capitalization of $1.22 billion, a PE ratio of 50.27 and a beta of 1.28. Proto Labs has a fifty-two week low of $39.36 and a fifty-two week high of $79.27.
Proto Labs (NYSE:PRLB – Get Rating) last announced its quarterly earnings results on Friday, August 5th. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Proto Labs had a return on equity of 2.95% and a net margin of 4.88%. The firm had revenue of $126.90 million for the quarter, compared to the consensus estimate of $127.28 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts expect that Proto Labs will post 0.79 EPS for the current year.
Wall Street Analyst Weigh In
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PRLB has been the subject of several research reports. StockNews.com raised Proto Labs from a hold rating to a buy rating in a report on Monday, August 8th. Craig Hallum dropped their price objective on shares of Proto Labs to $42.00 in a research report on Monday, August 15th.
Institutional Trading of Proto Labs
Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Proto Labs by 9.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,044 shares of the industrial products company’s stock worth $768,000 after purchasing an additional 1,441 shares in the last quarter. State Street Corp increased its holdings in shares of Proto Labs by 8.2% during the second quarter. State Street Corp now owns 1,120,464 shares of the industrial products company’s stock worth $53,603,000 after purchasing an additional 85,135 shares during the period. PDT Partners LLC acquired a new stake in shares of Proto Labs in the second quarter valued at approximately $222,000. Point72 Hong Kong Ltd bought a new stake in shares of Proto Labs in the second quarter valued at approximately $29,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Proto Labs by 110.0% in the second quarter. Cubist Systematic Strategies LLC now owns 110,286 shares of the industrial products company’s stock valued at $5,276,000 after buying an additional 57,778 shares during the period. 93.35% of the stock is owned by institutional investors and hedge funds.
Proto Labs Company Profile
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.
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