FARO Technologies (FARO) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of FARO Technologies (NASDAQ:FARO) from a hold rating to a buy rating in a report released on Thursday morning, BidAskClub reports.

Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of FARO Technologies from a hold rating to a buy rating and set a $54.00 target price on the stock in a research report on Wednesday, February 20th. Gabelli raised shares of FARO Technologies from a hold rating to a buy rating in a research report on Wednesday, February 20th. Craig Hallum downgraded shares of FARO Technologies from a buy rating to a hold rating in a research report on Thursday, February 21st. Finally, ValuEngine raised shares of FARO Technologies from a sell rating to a hold rating in a research report on Wednesday, February 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $56.95.

Shares of FARO Technologies stock traded up $0.33 on Thursday, reaching $56.94. The stock had a trading volume of 64,218 shares, compared to its average volume of 88,980. FARO Technologies has a 1 year low of $37.58 and a 1 year high of $70.20. The company has a market cap of $982.39 million, a P/E ratio of 123.78 and a beta of 1.51.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Tuesday, February 19th. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). FARO Technologies had a return on equity of 3.21% and a net margin of 1.22%. The firm had revenue of $112.84 million during the quarter, compared to analysts’ expectations of $118.59 million. During the same period in the previous year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that FARO Technologies will post 1.45 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in FARO Technologies by 61.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,323 shares of the scientific and technical instruments company’s stock valued at $54,000 after acquiring an additional 505 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in FARO Technologies during the 4th quarter valued at approximately $98,000. AdvisorNet Financial Inc lifted its stake in FARO Technologies by 11.9% during the 4th quarter. AdvisorNet Financial Inc now owns 2,585 shares of the scientific and technical instruments company’s stock valued at $105,000 after acquiring an additional 275 shares during the period. Flinton Capital Management LLC lifted its stake in FARO Technologies by 12.9% during the 4th quarter. Flinton Capital Management LLC now owns 2,940 shares of the scientific and technical instruments company’s stock valued at $119,000 after acquiring an additional 336 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in FARO Technologies by 370.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,065 shares of the scientific and technical instruments company’s stock valued at $197,000 after acquiring an additional 2,413 shares during the period. 97.11% of the stock is currently owned by institutional investors.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

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Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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