Craig Hallum set a $82.00 price target on FARO Technologies (NASDAQ:FARO) in a report released on Friday, The Fly reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.
A number of other analysts also recently commented on FARO. ValuEngine downgraded shares of FARO Technologies from a hold rating to a sell rating in a report on Thursday. BidaskClub upgraded shares of FARO Technologies from a hold rating to a buy rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research downgraded shares of FARO Technologies from a hold rating to a strong sell rating in a report on Monday, July 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $64.40.
FARO stock traded down $2.01 during mid-day trading on Friday, reaching $44.00. The company’s stock had a trading volume of 162,280 shares, compared to its average volume of 86,170. The company has a market cap of $747.08 million, a price-to-earnings ratio of 151.72 and a beta of 1.68. FARO Technologies has a fifty-two week low of $43.26 and a fifty-two week high of $70.20.
FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Wednesday, October 31st. The scientific and technical instruments company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.06). The business had revenue of $99.71 million during the quarter, compared to analyst estimates of $102.53 million. FARO Technologies had a negative net margin of 2.99% and a positive return on equity of 3.18%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, analysts anticipate that FARO Technologies will post 0.83 earnings per share for the current year.
In other news, CEO Simon Raab sold 5,856 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $66.36, for a total transaction of $388,604.16. Following the completion of the sale, the chief executive officer now owns 30,047 shares in the company, valued at approximately $1,993,918.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kathleen Hall sold 5,921 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $67.54, for a total transaction of $399,904.34. Following the sale, the chief operating officer now owns 15,030 shares of the company’s stock, valued at approximately $1,015,126.20. The disclosure for this sale can be found here. Insiders have sold a total of 93,495 shares of company stock valued at $6,285,077 in the last 90 days. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in FARO. Xact Kapitalforvaltning AB acquired a new stake in shares of FARO Technologies during the 3rd quarter worth approximately $212,000. SG Americas Securities LLC acquired a new stake in shares of FARO Technologies during the 2nd quarter worth approximately $233,000. First Trust Advisors LP acquired a new stake in shares of FARO Technologies during the 3rd quarter worth approximately $255,000. Alps Advisors Inc. acquired a new stake in shares of FARO Technologies during the 2nd quarter worth approximately $286,000. Finally, Jane Street Group LLC acquired a new stake in shares of FARO Technologies during the 2nd quarter worth approximately $302,000. Institutional investors and hedge funds own 93.85% of the company’s stock.
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 offers FaroArm, a combination of six or seven-axis, 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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