FARO Technologies (NASDAQ:FARO) Hits New 1-Year High - Still a Buy?

Shares of FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $32.90 and last traded at $32.73, with a volume of 109773 shares trading hands. The stock had previously closed at $32.01.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FARO shares. Needham & Company LLC upped their target price on shares of FARO Technologies from $26.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. StockNews.com upgraded FARO Technologies from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Finally, Craig Hallum boosted their target price on FARO Technologies from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th.

FARO Technologies Stock Up 2.5 %

The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The business's fifty day moving average price is $27.80 and its 200 day moving average price is $21.89. The firm has a market capitalization of $589.93 million, a PE ratio of -89.08 and a beta of 1.40.

Institutional Trading of FARO Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in FARO. Dimensional Fund Advisors LP boosted its stake in shares of FARO Technologies by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company's stock valued at $9,671,000 after acquiring an additional 59,142 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of FARO Technologies during the 2nd quarter worth about $901,000. Quarry LP grew its holdings in shares of FARO Technologies by 912.2% during the second quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 1,651 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of FARO Technologies in the third quarter valued at approximately $141,000. Finally, CWM LLC lifted its stake in shares of FARO Technologies by 41.0% during the third quarter. CWM LLC now owns 3,328 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 968 shares during the period. Institutional investors and hedge funds own 97.19% of the company's stock.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.