FARO Technologies Coverage Initiated at Stephens (FARO)
Stephens initiated coverage on shares of FARO Technologies (NASDAQ:FARO) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $65.00 price target on the stock. Stephens’ price objective indicates a potential upside of 21.16% from the stock’s previous close.
A number of other analysts have also recently weighed in on FARO. Analysts at Zacks upgraded shares of FARO Technologies from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 31st. They now have a $54.00 price target on the stock. Separately, analysts at Wedbush upgraded shares of FARO Technologies to a “buy” rating in a research note on Thursday, June 5th. Finally, analysts at Needham & Company LLC upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. They now have a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $53.40.
FARO Technologies (NASDAQ:FARO) traded up 3.49% during mid-day trading on Tuesday, hitting $55.52. The stock had a trading volume of 65,845 shares. FARO Technologies has a 1-year low of $36.50 and a 1-year high of $60.91. The stock’s 50-day moving average is $48.98 and its 200-day moving average is $48.92. The company has a market cap of $957.6 million and a P/E ratio of 37.81.
FARO Technologies (NASDAQ:FARO) last released its earnings data on Tuesday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $82.10 million for the quarter, compared to the consensus estimate of $77.55 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts predict that FARO Technologies will post $1.58 earnings per share 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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