Ameriprise Financial Inc. Purchases 6,955 Shares of FARO Technologies, Inc. (FARO)

Ameriprise Financial Inc. grew its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,157 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,955 shares during the quarter. Ameriprise Financial Inc. owned about 1.17% of FARO Technologies worth $7,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in FARO Technologies by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 71,705 shares of the scientific and technical instruments company’s stock worth $2,564,000 after purchasing an additional 3,915 shares in the last quarter. Comerica Bank raised its holdings in FARO Technologies by 3.7% in the 1st quarter. Comerica Bank now owns 18,419 shares of the scientific and technical instruments company’s stock worth $689,000 after purchasing an additional 664 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in FARO Technologies by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 16,283 shares of the scientific and technical instruments company’s stock worth $582,000 after purchasing an additional 2,457 shares in the last quarter. Royce & Associates LP raised its holdings in FARO Technologies by 1.7% in the 2nd quarter. Royce & Associates LP now owns 701,900 shares of the scientific and technical instruments company’s stock worth $26,532,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in FARO Technologies by 93.7% in the 1st quarter. Bank of America Corp DE now owns 26,241 shares of the scientific and technical instruments company’s stock worth $938,000 after purchasing an additional 12,696 shares in the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

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Shares of FARO Technologies, Inc. (NASDAQ FARO) opened at 37.95 on Friday. The firm’s 50-day moving average is $37.38 and its 200-day moving average is $36.28. FARO Technologies, Inc. has a 1-year low of $29.00 and a 1-year high of $40.95. The company’s market capitalization is $634.07 million.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.14. The business had revenue of $90.25 million during the quarter, compared to the consensus estimate of $89.34 million. FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. Analysts forecast that FARO Technologies, Inc. will post ($0.12) earnings per share for the current fiscal year.

Several brokerages recently issued reports on FARO. Gabelli lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Noble Financial reiterated a “buy” rating on shares of FARO Technologies in a research note on Thursday, August 3rd. Canaccord Genuity increased their price target on shares of FARO Technologies from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.40.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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