FARO Technologies (FARO) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a hold rating in a research note published on Tuesday morning.

Other research analysts have also issued research reports about the company. Noble Financial reiterated a buy rating on shares of FARO Technologies in a research report on Friday, November 3rd. Zacks Investment Research upgraded FARO Technologies from a hold rating to a buy rating and set a $58.00 price target for the company in a research report on Wednesday, November 1st. Craig Hallum set a $55.00 price target on FARO Technologies and gave the stock a buy rating in a research report on Monday, October 30th. Canaccord Genuity reiterated a buy rating and issued a $52.00 price target (up previously from $42.00) on shares of FARO Technologies in a research report on Monday, October 30th. Finally, Needham & Company LLC reiterated a buy rating and issued a $53.00 price target (up previously from $39.00) on shares of FARO Technologies in a research report on Sunday, October 29th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $50.50.

FARO Technologies (NASDAQ:FARO) traded up $0.60 on Tuesday, reaching $52.45. The company had a trading volume of 54,268 shares, compared to its average volume of 108,053. FARO Technologies has a 12 month low of $31.90 and a 12 month high of $54.40.

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

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in shares of FARO Technologies by 17.7% during the second 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 during the period. BNP Paribas Arbitrage SA boosted its position in shares of FARO Technologies by 71.8% during the second 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 during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of FARO Technologies by 59.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock valued at $239,000 after buying an additional 2,330 shares during the period. Voya Investment Management LLC boosted its position in shares of FARO Technologies by 13.5% during the second 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 during the period. Finally, Ark Investment Management LLC boosted its position in shares of FARO Technologies by 86.2% during the second quarter. Ark Investment Management LLC now owns 9,870 shares of the scientific and technical instruments company’s stock valued at $373,000 after buying an additional 4,569 shares during the period. Institutional investors and hedge funds own 97.56% of the company’s stock.

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FARO Technologies Company Profile

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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