The Proto Labs Inc. (PRLB) Issues Q4 Earnings Guidance

The Proto Labs Inc. (PRLB) Issues Q4 Earnings Guidance

Proto Labs Inc. (NYSE:PRLB) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.36-0.44 for the period, compared to the Thomson Reuters consensus estimate of $0.49. The company issued revenue guidance of $70-75 million, compared to the consensus revenue estimate of $79.70 million.

Shares of Proto Labs Inc. (NYSE:PRLB) opened at 44.45 on Monday. The stock has a market capitalization of $1.17 billion, a PE ratio of 25.84 and a beta of 0.49. Proto Labs Inc. has a 52 week low of $43.10 and a 52 week high of $82.06. The stock has a 50 day moving average of $55.38 and a 200-day moving average of $60.31.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Proto Labs had a net margin of 15.14% and a return on equity of 13.03%. The firm had revenue of $78.20 million for the quarter, compared to the consensus estimate of $29.97 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that Proto Labs Inc. will post $1.80 EPS for the current year.

PRLB has been the topic of a number of analyst reports. Dougherty & Co downgraded shares of Proto Labs from a buy rating to a sell rating in a research report on Wednesday, August 31st. Zacks Investment Research downgraded shares of Proto Labs from a hold rating to a strong sell rating in a research report on Thursday, September 15th. Canaccord Genuity reiterated a buy rating and issued a $65.00 target price on shares of Proto Labs in a research note on Friday, September 2nd. Finally, TheStreet cut shares of Proto Labs from a buy rating to a hold rating in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Proto Labs currently has a consensus rating of Hold and an average target price of $70.25.

In other Proto Labs news, insider Arthur R. Baker III acquired 3,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average cost of $55.00 per share, for a total transaction of $165,000.00. Following the purchase, the insider now owns 7,105 shares in the company, valued at approximately $390,775. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.48% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors acquired a new stake in shares of Proto Labs during the second quarter valued at approximately $16,750,000. Waddell & Reed Financial Inc. boosted its stake in shares of Proto Labs by 174.6% in the second quarter. Waddell & Reed Financial Inc. now owns 181,468 shares of the company’s stock valued at $10,446,000 after buying an additional 115,373 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Proto Labs by 4.9% in the second quarter. BlackRock Fund Advisors now owns 1,517,705 shares of the company’s stock valued at $87,359,000 after buying an additional 70,784 shares during the last quarter. Weatherbie Capital LLC boosted its stake in shares of Proto Labs by 74.2% in the second quarter. Weatherbie Capital LLC now owns 136,972 shares of the company’s stock valued at $7,884,000 after buying an additional 58,354 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Proto Labs by 84.8% in the second quarter. Sei Investments Co. now owns 92,207 shares of the company’s stock valued at $5,309,000 after buying an additional 42,312 shares during the last quarter.

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