Proto Labs (NYSE:PRLB) Releases Earnings Results, Beats Expectations By $0.15 EPS

Proto Labs (NYSE:PRLB) posted its quarterly earnings data on Friday. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.15, RTT News reports. The firm had revenue of $125.60 million for the quarter, compared to the consensus estimate of $121.38 million. Proto Labs had a return on equity of 3.60% and a net margin of 4.86%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. 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 Trading Up 38.8 %

NYSE PRLB opened at $38.03 on Friday. Proto Labs has a 12 month low of $23.73 and a 12 month high of $41.87. The stock has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $30.41. The company has a market capitalization of $956.45 million, a PE ratio of 39.58 and a beta of 1.31.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Robert Bodor purchased 3,480 shares of Proto Labs stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $28.68 per share, with a total value of $99,806.40. Following the completion of the transaction, the chief executive officer now directly owns 80,878 shares in the company, valued at $2,319,581.04. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

About Proto Labs

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.