Strs Ohio increased its stake in Faro Technologies Inc. (NASDAQ:FARO) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,300 shares of the company’s stock after buying an additional 10,400 shares during the period. Strs Ohio’s holdings in Faro Technologies were worth $4,103,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Capital Management Inc. increased 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 during the period. Stoneridge Investment Partners LLC acquired a new position in shares of Faro Technologies during the second quarter valued at $1,096,000. BlackRock Group LTD increased 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 during the period. Norges Bank acquired a new position in shares of Faro Technologies during the fourth quarter valued at $8,152,000. Finally, Nisa Investment Advisors L.L.C. increased 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 during the period. 92.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Faro Technologies Inc. (NASDAQ:FARO) traded down 1.50% during mid-day trading on Thursday, hitting $36.17. The stock had a trading volume of 75,908 shares. The firm has a market cap of $603.10 million, a PE ratio of 42.30 and a beta of 1.72. Faro Technologies Inc. has a 52-week low of $20.72 and a 52-week high of $40.17. The firm has a 50 day moving average price of $34.15 and a 200 day moving average price of $33.45.
Faro Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The firm had revenue of $78.50 million for the quarter, compared to analysts’ expectations of $84.38 million. Faro Technologies had a return on equity of 4.86% and a net margin of 4.55%. Faro Technologies’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. Equities analysts predict that Faro Technologies Inc. will post $1.05 EPS for the current year.
Several research analysts recently weighed in on FARO shares. Zacks Investment Research downgraded Faro Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Needham & Company LLC dropped their target price on Faro Technologies from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Finally, Canaccord Genuity restated a “buy” rating and set a $38.00 target price on shares of Faro Technologies in a research note on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $36.17.
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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