FARO Technologies, Inc. (NASDAQ:FARO) insider Simon Raab sold 11,700 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $59.93, for a total value of $701,181.00. Following the transaction, the insider now owns 38,478 shares of the company’s stock, valued at approximately $2,305,986.54. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of FARO Technologies stock traded up $0.40 during midday trading on Monday, hitting $59.35. The stock had a trading volume of 92,722 shares, compared to its average volume of 94,760. The company has a market cap of $990.22, a PE ratio of -68.22 and a beta of 1.44. FARO Technologies, Inc. has a 12 month low of $31.90 and a 12 month high of $63.90.
FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.14. The company had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.31 million. FARO Technologies had a positive return on equity of 1.39% and a negative net margin of 4.02%. FARO Technologies’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. research analysts anticipate that FARO Technologies, Inc. will post 1.07 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in FARO Technologies in the 4th quarter valued at about $2,616,000. HighPoint Advisor Group LLC acquired a new stake in FARO Technologies in the 4th quarter valued at about $831,000. Pier Capital LLC acquired a new stake in FARO Technologies in the 4th quarter valued at about $5,117,000. MetLife Investment Advisors LLC acquired a new stake in FARO Technologies in the 4th quarter valued at about $402,000. Finally, Castleark Management LLC acquired a new stake in FARO Technologies in the 4th quarter valued at about $6,758,000. Institutional investors own 93.46% of the company’s stock.
FARO has been the subject of a number of research reports. Zacks Investment Research upgraded FARO Technologies from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a report on Monday, January 1st. BidaskClub upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Craig Hallum set a $60.00 target price on FARO Technologies and gave the stock a “buy” rating in a report on Monday, November 27th. Canaccord Genuity reiterated a “buy” rating and set a $66.00 target price on shares of FARO Technologies in a report on Thursday, February 22nd. Finally, Noble Financial restated a “buy” rating on shares of FARO Technologies in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. FARO Technologies has a consensus rating of “Buy” and a consensus target price of $58.67.
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About FARO Technologies
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.
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