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FARO Technologies (NASDAQ:FARO) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $48.00 price target on the stock, down from their previous price target of $60.00. Robert W. Baird’s price objective would suggest a potential upside of 10.12% from the company’s current price.

Shares of FARO Technologies (NASDAQ:FARO) traded up 9.25% during mid-day trading on Thursday, hitting $43.59. 398,755 shares of the company’s stock traded hands. FARO Technologies has a 1-year low of $32.51 and a 1-year high of $60.91. The stock’s 50-day moving average is $50.37 and its 200-day moving average is $52.12. The company has a market cap of $749.2 million and a P/E ratio of 31.92.

FARO Technologies (NASDAQ:FARO) last released its earnings data on Tuesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $73.40 million for the quarter, compared to the consensus estimate of $74.24 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts expect that FARO Technologies will post $1.58 EPS for the current fiscal year.

FARO Technologies, Inc designs, develops, manufactures, markets and supports portable, software driven, three-dimensional (NASDAQ:FARO) measurement and imaging systems used in a range of manufacturing, industrial, building construction and forensic applications.

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