FARO Technologies Stock Rating Lowered by Zacks (FARO)
FARO Technologies (NASDAQ:FARO) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Friday. They currently have a $62.00 price objective on the stock. Zacks‘s price target points to a potential upside of 8.30% from the company’s current price.
Shares of FARO Technologies (NASDAQ:FARO) traded up 0.12% on Friday, hitting $57.32. 52,555 shares of the company’s stock traded hands. FARO Technologies has a 52 week low of $36.95 and a 52 week high of $60.91. The stock’s 50-day moving average is $50.79 and its 200-day moving average is $49.33. The company has a market cap of $988.6 million and a P/E ratio of 40.35.
FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.21 earnings per share. FARO Technologies’s revenue was up 20.2% compared to the same quarter last year. Analysts expect that FARO Technologies will post $1.59 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens initiated coverage on shares of FARO Technologies in a research note on Tuesday, August 19th. They set an “overweight” rating and a $65.00 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $55.00.
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.
To view Zacks’ full report, visit Zacks’ official website.
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