Shares of FARO Technologies, Inc. (NASDAQ:FARO) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $44.39.
Several research analysts have weighed in on FARO shares. BidaskClub raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine raised shares of FARO Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 3rd.
In other news, Director John Donofrio sold 2,873 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $52.43, for a total transaction of $150,631.39. Following the completion of the transaction, the director now owns 21,075 shares of the company’s stock, valued at approximately $1,104,962.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new stake in shares of FARO Technologies during the 1st quarter valued at approximately $48,000. Advisors Asset Management Inc. boosted its stake in FARO Technologies by 12.3% during the first quarter. Advisors Asset Management Inc. now owns 3,544 shares of the scientific and technical instruments company’s stock valued at $156,000 after buying an additional 387 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in FARO Technologies by 402.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,988 shares of the scientific and technical instruments company’s stock valued at $175,000 after buying an additional 3,194 shares in the last quarter. Marshall Wace North America L.P. bought a new position in FARO Technologies during the first quarter valued at about $180,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in FARO Technologies during the fourth quarter valued at about $200,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.
Shares of FARO traded up $0.67 during mid-day trading on Tuesday, reaching $49.74. The stock had a trading volume of 73,597 shares, compared to its average volume of 129,585. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.16. FARO Technologies has a 52-week low of $37.58 and a 52-week high of $69.00. The company has a fifty day moving average of $50.10. The stock has a market capitalization of $868.17 million, a price-to-earnings ratio of 108.13 and a beta of 1.79.
FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.27. FARO Technologies had a negative net margin of 0.75% and a positive return on equity of 3.42%. The firm had revenue of $93.50 million during the quarter, compared to analyst estimates of $96.32 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. FARO Technologies’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts forecast that FARO Technologies will post 0.33 EPS for the current fiscal year.
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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