Shares of FARO Technologies, Inc. (NASDAQ:FARO) have received a consensus rating of “Hold” from the eight analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $44.39.
FARO has been the topic of a number of research reports. Zacks Investment Research upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Monday, September 9th. ValuEngine lowered FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, BidaskClub upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Thursday.
In other FARO Technologies news, Director John Donofrio sold 2,873 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $52.43, for a total value of $150,631.39. Following the transaction, the director now owns 21,075 shares in the company, valued at approximately $1,104,962.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of FARO Technologies by 13.4% during the 2nd quarter. BlackRock Inc. now owns 2,893,252 shares of the scientific and technical instruments company’s stock worth $152,128,000 after acquiring an additional 340,879 shares during the period. Vanguard Group Inc. raised its holdings in shares of FARO Technologies by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,825,803 shares of the scientific and technical instruments company’s stock worth $96,001,000 after acquiring an additional 11,869 shares during the period. Baillie Gifford & Co. raised its holdings in shares of FARO Technologies by 1.4% during the 2nd quarter. Baillie Gifford & Co. now owns 394,639 shares of the scientific and technical instruments company’s stock worth $20,749,000 after acquiring an additional 5,353 shares during the period. Northern Trust Corp raised its holdings in shares of FARO Technologies by 1.7% during the 2nd quarter. Northern Trust Corp now owns 234,690 shares of the scientific and technical instruments company’s stock worth $12,341,000 after acquiring an additional 4,000 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new position in shares of FARO Technologies during the 1st quarter worth $8,479,000. Institutional investors own 98.34% of the company’s stock.
FARO Technologies stock traded down $0.33 during trading on Friday, reaching $54.54. The company had a trading volume of 93,979 shares, compared to its average volume of 73,585. The firm’s 50-day simple moving average is $50.59 and its 200 day simple moving average is $49.44. FARO Technologies has a 1-year low of $37.58 and a 1-year high of $67.36. The firm has a market capitalization of $960.58 million, a PE ratio of 118.57 and a beta of 1.77. 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 (NASDAQ:FARO) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $96.32 million. During the same quarter last year, the company earned $0.07 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts anticipate that FARO Technologies will post 0.25 EPS for the current year.
About FARO Technologies
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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