Posted by admin on Jun 6th, 2022
Proto Labs (NYSE:PRLB – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $0.35-$0.43 for the period, compared to the consensus EPS estimate of $0.38. The company issued revenue guidance of $123.00 million-$131.00 million, compared to the consensus revenue estimate of $127.58 million.
A number of brokerages have recently commented on PRLB. StockNews.com assumed coverage on shares of Proto Labs in a report on Thursday, March 31st. They set a hold rating for the company. Craig Hallum lowered their target price on shares of Proto Labs from $56.00 to $50.00 in a report on Monday, May 9th. Finally, Zacks Investment Research upgraded shares of Proto Labs from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Thursday, May 19th.
NYSE PRLB opened at $48.75 on Monday. The company’s fifty day simple moving average is $46.79 and its 200-day simple moving average is $50.28. Proto Labs has a 52 week low of $39.36 and a 52 week high of $98.26. The stock has a market cap of $1.34 billion, a P/E ratio of 38.69 and a beta of 1.41.
Proto Labs (NYSE:PRLB – Get Rating) last posted its earnings results on Friday, May 6th. The industrial products company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. The business had revenue of $124.20 million for the quarter, compared to analysts’ expectations of $122.03 million. Proto Labs had a net margin of 7.01% and a return on equity of 4.19%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, equities analysts forecast that Proto Labs will post 0.63 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Proto Labs by 8.3% during the fourth quarter. BlackRock Inc. now owns 4,966,091 shares of the industrial products company’s stock worth $255,011,000 after purchasing an additional 381,223 shares during the period. 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 worth $24,426,000 after purchasing an additional 179,112 shares during the period. Vanguard Group Inc. raised its holdings in shares of Proto Labs by 5.1% during the first quarter. Vanguard Group Inc. now owns 2,848,640 shares of the industrial products company’s stock worth $150,693,000 after purchasing an additional 137,885 shares during the period. Morgan Stanley raised its holdings in shares of Proto Labs by 47.9% during the second quarter. Morgan Stanley now owns 370,382 shares of the industrial products company’s stock worth $34,001,000 after purchasing an additional 120,022 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Proto Labs by 34.2% during the first 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 during the period. 93.35% of the stock is currently owned by hedge funds and other institutional investors.
About Proto Labs (Get Rating)
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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