FARO Technologies (FARO) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of FARO Technologies (NASDAQ:FARO) from a hold rating to a sell rating in a research report report published on Saturday.

Several other research analysts have also recently issued reports on the stock. Craig Hallum set a $60.00 target price on shares of FARO Technologies and gave the stock a buy rating in a report on Monday, November 27th. Zacks Investment Research upgraded shares of FARO Technologies from a hold rating to a buy rating and set a $58.00 target price on the stock in a report on Tuesday, November 14th. Noble Financial reiterated a buy rating on shares of FARO Technologies in a report on Friday, November 3rd. Canaccord Genuity reiterated a buy rating and set a $52.00 target price (up from $42.00) on shares of FARO Technologies in a report on Monday, October 30th. Finally, Stifel Nicolaus increased their target price on shares of FARO Technologies from $33.00 to $46.00 and gave the stock a hold rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $51.17.

Shares of FARO Technologies (FARO) remained flat at $$47.70 during trading on Friday. The stock had a trading volume of 411,772 shares, compared to its average volume of 93,000. FARO Technologies has a twelve month low of $31.90 and a twelve month high of $54.40.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The company had revenue of $90.25 million for the quarter, compared to analysts’ expectations of $89.34 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. equities analysts expect that FARO Technologies will post 0.1 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of FARO Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,811 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 572 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of FARO Technologies by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock valued at $149,000 after buying an additional 130 shares in the last quarter. Aperio Group LLC boosted its holdings in shares of FARO Technologies by 2.6% in the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock valued at $224,000 after buying an additional 150 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of FARO Technologies by 71.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock valued at $225,000 after buying an additional 2,490 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of FARO Technologies by 13.5% in the 2nd quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock valued at $310,000 after buying an additional 974 shares in the last quarter. Institutional investors and hedge funds own 97.62% of the company’s stock.

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About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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