FARO Technologies (NASDAQ:FARO) Rating Increased to Hold at BidaskClub

FARO Technologies (NASDAQ:FARO) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, January 9th.

FARO has been the subject of a number of other research reports. Stifel Nicolaus set a $33.00 price target on FARO Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target (up previously from $42.00) on shares of FARO Technologies in a research report on Monday, October 30th. Zacks Investment Research upgraded FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $53.00 price objective (up previously from $39.00) on shares of FARO Technologies in a report on Sunday, October 29th. Finally, Craig Hallum set a $60.00 price objective on FARO Technologies and gave the company a “buy” rating in a report on Monday, November 27th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. FARO Technologies currently has a consensus rating of “Buy” and an average price target of $50.50.

Shares of FARO Technologies (NASDAQ:FARO) traded up $0.05 during mid-day trading on Tuesday, reaching $53.90. The company’s stock had a trading volume of 64,538 shares, compared to its average volume of 78,635. FARO Technologies has a one year low of $31.90 and a one year high of $54.80. The firm has a market cap of $905.74, a price-to-earnings ratio of -5,390,000.00 and a beta of 1.43.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a return on equity of 0.03% and a net margin of 0.03%. The company had revenue of $90.25 million during the quarter, compared to analyst estimates of $89.34 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. research analysts expect that FARO Technologies will post 0.1 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Paradice Investment Management LLC acquired a new stake in shares of FARO Technologies in the fourth quarter valued at $24,698,000. Assenagon Asset Management S.A. purchased a new stake in shares of FARO Technologies during the fourth quarter valued at $1,441,000. Fisher Asset Management LLC lifted its holdings in shares of FARO Technologies by 29.8% during the fourth quarter. Fisher Asset Management LLC now owns 91,785 shares of the scientific and technical instruments company’s stock valued at $4,314,000 after purchasing an additional 21,082 shares during the last quarter. New England Investment & Retirement Group Inc. purchased a new stake in shares of FARO Technologies during the fourth quarter valued at $355,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of FARO Technologies by 20.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 82,044 shares of the scientific and technical instruments company’s stock valued at $3,857,000 after purchasing an additional 14,178 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

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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.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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