FARO Technologies (NASDAQ:FARO - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Friday.
Several other analysts have also recently commented on FARO. Craig Hallum boosted their price target on FARO Technologies from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Needham & Company LLC upped their target price on shares of FARO Technologies from $34.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th.
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FARO Technologies Price Performance
FARO traded up $0.55 during midday trading on Friday, hitting $31.21. 450,405 shares of the company traded hands, compared to its average volume of 177,487. The business has a 50 day simple moving average of $28.91 and a two-hundred day simple moving average of $23.73. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $33.13. The company has a market capitalization of $592.43 million, a price-to-earnings ratio of -89.17 and a beta of 1.40. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27.
FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same period last year, the company posted $0.36 EPS.
Insider Activity
In related news, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now owns 153,512 shares in the company, valued at approximately $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company's stock.
Institutional Trading of FARO Technologies
Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP grew its holdings in shares of FARO Technologies by 27.6% in the third quarter. GSA Capital Partners LLP now owns 78,277 shares of the scientific and technical instruments company's stock valued at $1,498,000 after purchasing an additional 16,944 shares during the period. Royce & Associates LP boosted its holdings in FARO Technologies by 20.0% in the 3rd 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 purchasing an additional 234,650 shares during the last quarter. Quest Partners LLC grew its stake in shares of FARO Technologies by 196.7% in the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company's stock valued at $605,000 after buying an additional 20,963 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of FARO Technologies by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,559 shares of the scientific and technical instruments company's stock worth $4,260,000 after buying an additional 10,228 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of FARO Technologies during the 3rd quarter valued at approximately $213,000. 97.19% of the stock is owned by institutional investors and hedge funds.
FARO Technologies Company Profile
(
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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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