Insider Buying: FARO Technologies SVP Buys 1,000 Shares of Stock (FARO)
FARO Technologies (NASDAQ:FARO) SVP Jody Storm Gale bought 1,000 shares of the stock on the open market in a transaction dated Thursday, May 29th. The shares were purchased at an average cost of $42.36 per share, with a total value of $42,360.00. Following the completion of the acquisition, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $42,360. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of FARO Technologies (NASDAQ:FARO) traded up 0.24% on Friday, hitting $42.52. The stock had a trading volume of 59,334 shares. 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 $44.36 and its 200-day moving average is $51.69. The company has a market cap of $732.7 million and a P/E ratio of 33.40.
FARO Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, April 29th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts expect that FARO Technologies will post $1.54 EPS for the current fiscal year.
FARO has been the subject of a number of recent research reports. Analysts at Gabelli upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Analysts at Robert W. Baird upgraded shares of FARO Technologies from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 1st. They now have a $48.00 price target on the stock, down previously from $60.00. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.93.
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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