Zacks: Analysts Anticipate Proto Labs, Inc. (PRLB) Will Post Quarterly Sales of $85.53 Million
Equities research analysts forecast that Proto Labs, Inc. (NYSE:PRLB) will post $85.53 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Proto Labs’ earnings, with estimates ranging from $85.30 million to $85.99 million. Proto Labs reported sales of $78.17 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Proto Labs will report full-year sales of $85.53 million for the current financial year, with estimates ranging from $333.89 million to $336.70 million. For the next financial year, analysts expect that the company will report sales of $369.60 million per share, with estimates ranging from $366.39 million to $374.31 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Proto Labs.
Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. Proto Labs had a return on equity of 11.75% and a net margin of 14.59%. The business had revenue of $82.04 million during the quarter, compared to analyst estimates of $80.49 million. During the same period last year, the company earned $0.45 earnings per share. Proto Labs’s quarterly revenue was up 9.4% compared to the same quarter last year.
PRLB has been the subject of a number of recent research reports. Piper Jaffray Companies restated a “hold” rating and set a $67.00 price objective on shares of Proto Labs in a research note on Friday, July 28th. Dougherty & Co upgraded shares of Proto Labs from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Proto Labs currently has a consensus rating of “Hold” and a consensus price target of $56.00.
In other news, VP Robert Bodor sold 741 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $73.84, for a total transaction of $54,715.44. Following the completion of the transaction, the vice president now directly owns 17,319 shares in the company, valued at approximately $1,278,834.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 7.78% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Proto Labs by 65.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,974 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 782 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Proto Labs in the 1st quarter valued at about $109,000. UBS Group AG raised its holdings in shares of Proto Labs by 128.0% in the 1st quarter. UBS Group AG now owns 2,603 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 11,895 shares during the period. SG Americas Securities LLC raised its holdings in shares of Proto Labs by 27.1% in the 1st quarter. SG Americas Securities LLC now owns 2,830 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 603 shares during the period. Finally, Invictus RG bought a new stake in shares of Proto Labs in the 1st quarter valued at about $179,000.
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Proto Labs (NYSE PRLB) traded down 0.37% during trading on Tuesday, reaching $80.25. The company’s stock had a trading volume of 40,781 shares. The company’s 50 day moving average price is $74.11 and its 200 day moving average price is $65.65. Proto Labs has a 52 week low of $43.10 and a 52 week high of $82.50. The company has a market cap of $2.14 billion, a P/E ratio of 46.66 and a beta of 0.99.
About Proto Labs
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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