FARO Technologies (NASDAQ:FARO) Downgraded by StockNews.com to "Buy"

StockNews.com cut shares of FARO Technologies (NASDAQ:FARO - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Several other equities analysts have also issued reports on the stock. Craig Hallum lifted their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Needham & Company LLC lifted their price objective on FARO Technologies from $34.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th.

FARO Technologies Stock Up 2.2 %

Shares of NASDAQ FARO traded up $0.65 during mid-day trading on Friday, hitting $29.37. 95,469 shares of the stock traded hands, compared to its average volume of 168,678. The company has a market cap of $557.41 million, a price-to-earnings ratio of -83.87 and a beta of 1.55. The stock has a fifty day moving average price of $29.66 and a 200-day moving average price of $24.69. FARO Technologies has a 52 week low of $13.52 and a 52 week high of $33.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17.

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FARO Technologies (NASDAQ:FARO - Get Free Report) last announced its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. The firm had revenue of $93.54 million for the quarter, compared to analysts' expectations of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same quarter in the previous year, the business posted $0.36 EPS.

Insider Activity

In other news, CEO Peter James Lau sold 4,617 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the transaction, the chief executive officer now directly owns 160,076 shares of the company's stock, valued at $4,690,226.80. This represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total value of $177,378.30. Following the completion of the sale, the director now directly owns 153,512 shares of the company's stock, valued at $4,812,601.20. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,755 shares of company stock worth $356,020 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FARO. Quarry LP purchased a new stake in shares of FARO Technologies during the 4th quarter valued at about $25,000. National Bank of Canada FI bought a new position in FARO Technologies in the fourth quarter worth approximately $55,000. Lazard Asset Management LLC bought a new stake in shares of FARO Technologies during the 4th quarter valued at $78,000. Covestor Ltd purchased a new stake in shares of FARO Technologies in the 4th quarter worth $111,000. Finally, Aquatic Capital Management LLC bought a new position in FARO Technologies in the 4th quarter worth $155,000. Institutional investors 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.