Proto Labs (NYSE:PRLB) Updates Q2 2022 Earnings Guidance

Proto Labs (NYSE:PRLBGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.35-$0.43 for the period, compared to the consensus earnings per share 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.

PRLB has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of Proto Labs in a research report on Thursday, March 31st. They set a hold rating on the stock. Craig Hallum cut their price objective on shares of Proto Labs from $56.00 to $50.00 in a research report on Monday. Finally, Zacks Investment Research raised Proto Labs from a sell rating to a hold rating in a report on Wednesday, March 2nd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Proto Labs currently has a consensus rating of Hold and an average target price of $54.50.

NYSE:PRLB traded down $2.24 during midday trading on Monday, hitting $43.69. 10,565 shares of the company traded hands, compared to its average volume of 243,447. Proto Labs has a 12-month low of $41.73 and a 12-month high of $104.99. The firm’s fifty day moving average is $49.79 and its 200-day moving average is $52.72. The firm has a market capitalization of $1.20 billion, a P/E ratio of 36.45 and a beta of 1.43.

Proto Labs (NYSE:PRLBGet Rating) last released its quarterly earnings data on Friday, May 6th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. Proto Labs had a net margin of 6.84% and a return on equity of 4.05%. The company had revenue of $124.20 million during the quarter, compared to analyst estimates of $122.03 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Proto Labs will post 0.51 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its position in Proto Labs by 42.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 795 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 236 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Proto Labs in the 4th quarter valued at about $314,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Proto Labs in the fourth quarter valued at approximately $483,000. Toroso Investments LLC lifted its position in shares of Proto Labs by 101.3% during the 4th quarter. Toroso Investments LLC now owns 9,926 shares of the industrial products company’s stock valued at $510,000 after buying an additional 4,996 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in Proto Labs by 7.4% in the 4th quarter. State of Tennessee Treasury Department now owns 14,464 shares of the industrial products company’s stock worth $743,000 after acquiring an additional 998 shares in the last quarter. Institutional investors and hedge funds own 93.35% of the company’s stock.

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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