Shares of Faro Technologies Inc. (NASDAQ:FARO) have been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $37.00.
FARO has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $39.00 price objective on shares of Faro Technologies in a research note on Friday, July 15th. Canaccord Genuity reiterated a “buy” rating and set a $38.00 price objective on shares of Faro Technologies in a research note on Thursday, August 4th. Finally, Zacks Investment Research lowered Faro Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.
Faro Technologies (NASDAQ:FARO) opened at 35.95 on Monday. The stock has a market capitalization of $599.43 million, a PE ratio of 42.05 and a beta of 1.78. Faro Technologies has a 52 week low of $20.72 and a 52 week high of $40.51. The firm has a 50-day moving average price of $33.71 and a 200-day moving average price of $33.35.
Faro Technologies (NASDAQ:FARO) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.08. The company had revenue of $78.50 million for the quarter, compared to analysts’ expectations of $84.38 million. Faro Technologies had a net margin of 4.55% and a return on equity of 4.86%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Equities research analysts predict that Faro Technologies will post $1.05 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Princeton Capital Management Inc. boosted its position in shares of Faro Technologies by 1.3% in the second quarter. Princeton Capital Management Inc. now owns 47,872 shares of the company’s stock valued at $1,620,000 after buying an additional 594 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Faro Technologies during the second quarter valued at $1,096,000. BlackRock Group LTD boosted its position in shares of Faro Technologies by 7.5% in the first quarter. BlackRock Group LTD now owns 24,962 shares of the company’s stock valued at $804,000 after buying an additional 1,743 shares in the last quarter. Norges Bank bought a new position in shares of Faro Technologies during the fourth quarter valued at $8,152,000. Finally, Nisa Investment Advisors L.L.C. boosted its position in shares of Faro Technologies by 56.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 25,300 shares of the company’s stock valued at $815,000 after buying an additional 9,100 shares in the last quarter. Institutional investors own 92.55% of the company’s stock.
About Faro Technologies
FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Americas, Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.
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