FARO Technologies (NASDAQ:FARO) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.
A number of other brokerages also recently commented on FARO. Zacks Investment Research downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. BidaskClub raised shares of FARO Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of FARO Technologies in a research note on Friday, November 2nd. Craig Hallum set a $82.00 target price on shares of FARO Technologies and gave the stock a “buy” rating in a research note on Friday, November 2nd. Finally, Berenberg Bank assumed coverage on shares of FARO Technologies in a research note on Wednesday, November 14th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.46.
NASDAQ:FARO opened at $44.62 on Wednesday. FARO Technologies has a twelve month low of $37.58 and a twelve month high of $70.20. The stock has a market capitalization of $826.76 million, a PE ratio of 97.00 and a beta of 1.54.
FARO Technologies (NASDAQ:FARO) last issued its earnings results on Tuesday, February 19th. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). FARO Technologies had a return on equity of 3.23% and a net margin of 1.22%. The firm had revenue of $112.84 million for the quarter, compared to analysts’ expectations of $118.59 million. During the same period last year, the firm earned $0.50 earnings per share. FARO Technologies’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that FARO Technologies will post 1.38 EPS for the current year.
A number of hedge funds have recently modified their holdings of FARO. Northern Trust Corp lifted its stake in shares of FARO Technologies by 7.2% in the 2nd quarter. Northern Trust Corp now owns 222,858 shares of the scientific and technical instruments company’s stock valued at $12,113,000 after purchasing an additional 15,000 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of FARO Technologies in the 3rd quarter valued at about $212,000. First Trust Advisors LP acquired a new position in shares of FARO Technologies in the 3rd quarter valued at about $255,000. Alps Advisors Inc. lifted its stake in shares of FARO Technologies by 53.3% in the 3rd quarter. Alps Advisors Inc. now owns 8,067 shares of the scientific and technical instruments company’s stock valued at $519,000 after purchasing an additional 2,804 shares during the period. Finally, CWM LLC lifted its stake in shares of FARO Technologies by 45.2% in the 3rd quarter. CWM LLC now owns 60,109 shares of the scientific and technical instruments company’s stock valued at $3,868,000 after purchasing an additional 18,711 shares during the period. 94.06% of the stock is currently owned by institutional investors.
About FARO Technologies
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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