BidaskClub upgraded shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a hold rating in a research note released on Wednesday.
A number of other analysts have also weighed in on FARO. Zacks Investment Research upgraded shares of FARO Technologies from a sell rating to a hold rating in a research report on Friday, January 4th. Gabelli upgraded shares of FARO Technologies from a hold rating to a buy rating in a research report on Wednesday, February 20th. ValuEngine upgraded shares of FARO Technologies from a sell rating to a hold rating in a research report on Wednesday, February 20th. Finally, Craig Hallum lowered shares of FARO Technologies from a buy rating to a hold rating in a research report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $56.95.
NASDAQ FARO opened at $43.08 on Wednesday. The company has a market cap of $821.93 million, a P/E ratio of 93.65 and a beta of 1.52. FARO Technologies has a 1 year low of $37.58 and a 1 year high of $70.20.
FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Tuesday, February 19th. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.09). The firm had revenue of $112.84 million for the quarter, compared to analyst estimates of $118.59 million. FARO Technologies had a return on equity of 3.21% and a net margin of 1.22%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. Analysts forecast that FARO Technologies will post 1.45 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in FARO Technologies by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 189,202 shares of the scientific and technical instruments company’s stock valued at $7,689,000 after buying an additional 17,035 shares in the last quarter. Norges Bank acquired a new stake in FARO Technologies in the fourth quarter valued at approximately $14,779,000. Millennium Management LLC boosted its position in FARO Technologies by 233.3% in the fourth quarter. Millennium Management LLC now owns 39,841 shares of the scientific and technical instruments company’s stock valued at $1,619,000 after buying an additional 27,888 shares in the last quarter. Legal & General Group Plc raised its stake in shares of FARO Technologies by 6.3% during the fourth quarter. Legal & General Group Plc now owns 332,829 shares of the scientific and technical instruments company’s stock valued at $13,518,000 after acquiring an additional 19,713 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of FARO Technologies by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,101 shares of the scientific and technical instruments company’s stock valued at $492,000 after acquiring an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
FARO Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable 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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