FARO Technologies, Inc. (NASDAQ:FARO) has been given a $55.00 price target by analysts at Craig Hallum in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s target price suggests a potential upside of 18.92% from the company’s current price.

FARO has been the subject of several other reports. Stifel Nicolaus set a $33.00 price objective on shares of FARO Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price objective (up from $42.00) on shares of FARO Technologies in a research report on Monday. BidaskClub cut shares of FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $53.00 price objective (up from $39.00) on shares of FARO Technologies in a research report on Sunday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. FARO Technologies presently has an average rating of “Hold” and a consensus target price of $48.80.

Shares of FARO Technologies (NASDAQ:FARO) traded up 8.54% during trading on Monday, hitting $50.20. 112,024 shares of the stock were exchanged. The stock’s market cap is $838.74 million. The firm’s 50 day moving average price is $37.85 and its 200-day moving average price is $36.38. FARO Technologies has a 52 week low of $29.00 and a 52 week high of $50.45.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The company had revenue of $90.25 million during the quarter, compared to analysts’ expectations of $89.34 million. During the same period in the prior year, the company posted $0.07 earnings per share. FARO Technologies’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts predict that FARO Technologies will post ($0.12) EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This story was first published by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/30/faro-technologies-faro-positive-rating-reiterated-at-craig-hallum.html.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in FARO Technologies by 4.3% during the second quarter. Vanguard Group Inc. now owns 1,586,914 shares of the scientific and technical instruments company’s stock worth $59,986,000 after acquiring an additional 65,588 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in FARO Technologies by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,966 shares of the scientific and technical instruments company’s stock worth $39,198,000 after acquiring an additional 59,018 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in FARO Technologies by 1.6% during the second quarter. TimesSquare Capital Management LLC now owns 803,939 shares of the scientific and technical instruments company’s stock worth $30,389,000 after acquiring an additional 12,430 shares in the last quarter. Royce & Associates LP boosted its stake in FARO Technologies by 1.7% during the second quarter. Royce & Associates LP now owns 701,900 shares of the scientific and technical instruments company’s stock worth $26,532,000 after acquiring an additional 11,500 shares in the last quarter. Finally, State Street Corp boosted its stake in FARO Technologies by 4.0% during the second quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock worth $15,381,000 after acquiring an additional 15,551 shares in the last quarter. 94.70% of the stock is currently owned by institutional investors and hedge funds.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

Receive News & Ratings for FARO Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.