FARO Technologies (NASDAQ:FARO - Get Free Report) was upgraded by equities researchers at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.
A number of other research analysts also recently weighed in on the company. Needham & Company LLC upped their target price on FARO Technologies from $34.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Craig Hallum lifted their price target on FARO Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, December 12th.
View Our Latest Stock Analysis on FARO Technologies
FARO Technologies Trading Up 4.8 %
Shares of FARO Technologies stock traded up $1.32 during midday trading on Friday, reaching $29.03. 238,007 shares of the company's stock traded hands, compared to its average volume of 176,178. The company has a market cap of $551.05 million, a PE ratio of -82.94 and a beta of 1.55. The stock has a 50 day moving average of $29.32 and a 200-day moving average of $24.21. FARO Technologies has a 12 month low of $13.52 and a 12 month 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.
FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same period in the prior year, the business earned $0.36 EPS.
Insiders Place Their Bets
In other news, Director Yuval Wasserman sold 5,658 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the sale, the director now owns 153,512 shares of the company's stock, valued at $4,812,601.20. This trade represents a 3.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.10% of the company's stock.
Hedge Funds Weigh In On FARO Technologies
Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its position in FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company's stock valued at $26,969,000 after acquiring an additional 234,650 shares during the last quarter. Needham Investment Management LLC boosted its holdings in shares of FARO Technologies by 20.0% in the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company's stock worth $19,700,000 after buying an additional 171,300 shares during the last quarter. Harvey Partners LLC increased its holdings in FARO Technologies by 17.8% during the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company's stock valued at $19,255,000 after buying an additional 152,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FARO Technologies by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 744,222 shares of the scientific and technical instruments company's stock worth $18,874,000 after acquiring an additional 62,305 shares during the last quarter. Finally, Polar Asset Management Partners Inc. grew its position in shares of FARO Technologies by 0.4% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company's stock valued at $12,954,000 after acquiring an additional 2,700 shares during the period. 97.19% of the stock is owned by institutional investors.
FARO Technologies Company Profile
(
Get Free Report)
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.
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