Proto Labs (NYSE:PRLB) Shares Gap Up on Strong Earnings

Key Points

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Proto Labs, Inc. (NYSE:PRLB - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $39.23, but opened at $43.92. Proto Labs shares last traded at $41.44, with a volume of 57,353 shares.

The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. Proto Labs had a return on equity of 2.22% and a net margin of 2.91%. The business had revenue of $135.06 million during the quarter, compared to the consensus estimate of $128.05 million. During the same period in the prior year, the company posted $0.38 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year.

Analysts Set New Price Targets

PRLB has been the subject of a number of recent research reports. Craig Hallum raised shares of Proto Labs from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a report on Friday. Cantor Fitzgerald raised their target price on shares of Proto Labs from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wall Street Zen raised shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a report on Saturday.

Institutional Trading of Proto Labs

A number of institutional investors have recently bought and sold shares of PRLB. NewEdge Advisors LLC lifted its position in Proto Labs by 7,380.0% in the first quarter. NewEdge Advisors LLC now owns 748 shares of the industrial products company's stock worth $26,000 after buying an additional 738 shares during the last quarter. Sterling Capital Management LLC lifted its position in Proto Labs by 764.1% in the fourth quarter. Sterling Capital Management LLC now owns 795 shares of the industrial products company's stock worth $31,000 after buying an additional 703 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Proto Labs by 249.4% during the first quarter. GAMMA Investing LLC now owns 926 shares of the industrial products company's stock worth $32,000 after purchasing an additional 661 shares during the last quarter. Quarry LP lifted its position in shares of Proto Labs by 175.7% during the fourth quarter. Quarry LP now owns 1,585 shares of the industrial products company's stock worth $62,000 after purchasing an additional 1,010 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Proto Labs by 50.4% during the first quarter. CWM LLC now owns 1,840 shares of the industrial products company's stock worth $64,000 after purchasing an additional 617 shares during the last quarter. 84.54% of the stock is currently owned by institutional investors.

Proto Labs Price Performance

The firm has a market capitalization of $1.05 billion, a P/E ratio of 73.38 and a beta of 1.33. The firm has a 50-day moving average price of $39.29 and a two-hundred day moving average price of $38.59.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.