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Proto Labs, Inc. (NYSE:PRLB - Get Rating) was up 2.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $45.65 and last traded at $44.77. Approximately 2,023 shares traded hands during trading, a decline of 99% from the average daily volume of 176,742 shares. The stock had previously closed at $43.61.The industrial products company reported $0.38 EPS 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 for the quarter, compared to the consensus estimate of $122.03 million. During the same period in the previous year, the firm earned $0.13 EPS. Proto Labs's revenue was up 7.0% on a year-over-year basis.
A number of research analysts recently commented on PRLB shares. StockNews.com started coverage on shares of Proto Labs in a research report on Thursday, March 31st. They set a "hold" rating on the stock. Zacks Investment Research raised shares of Proto Labs from a "sell" rating to a "hold" rating in a research report on Wednesday, March 2nd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Proto Labs has an average rating of "Hold" and a consensus price target of $74.50.
A number of large investors have recently modified their holdings of the stock. Trexquant Investment LP acquired a new stake in shares of Proto Labs in the 3rd quarter valued at $438,000. Royal Bank of Canada lifted its stake in shares of Proto Labs by 19.2% in the 3rd quarter. Royal Bank of Canada now owns 34,205 shares of the industrial products company's stock valued at $2,277,000 after acquiring an additional 5,503 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Proto Labs by 33.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 4,447 shares of the industrial products company's stock valued at $296,000 after acquiring an additional 1,117 shares during the last quarter. Cim Investment Management Inc. lifted its stake in shares of Proto Labs by 100.0% in the 4th quarter. Cim Investment Management Inc. now owns 8,994 shares of the industrial products company's stock valued at $531,000 after acquiring an additional 4,497 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Proto Labs by 51.9% in the 3rd quarter. Barclays PLC now owns 28,586 shares of the industrial products company's stock valued at $1,904,000 after acquiring an additional 9,770 shares during the last quarter. 93.35% of the stock is currently owned by institutional investors and hedge funds.
The firm has a market capitalization of $1.26 billion, a P/E ratio of 36.34 and a beta of 1.43. The company has a 50-day moving average of $49.99 and a 200-day moving average of $53.18.
About Proto Labs (NYSE:PRLB)
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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