Shares of FARO Technologies, Inc. (NASDAQ:FARO) have earned an average rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $52.80.

Several brokerages recently weighed in on FARO. Gabelli cut FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Wednesday. Noble Financial reiterated a “buy” rating on shares of FARO Technologies in a report on Thursday, August 3rd. Canaccord Genuity increased their price objective on FARO Technologies from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, ValuEngine upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd.

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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.14. FARO Technologies had a return on equity of 0.03% and a net margin of 0.03%. The firm 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 business earned $0.07 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in FARO Technologies by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,586,914 shares of the scientific and technical instruments company’s stock valued at $59,986,000 after buying an additional 65,588 shares in the last quarter. Dimensional Fund Advisors LP increased its position in FARO Technologies by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,966 shares of the scientific and technical instruments company’s stock valued at $39,198,000 after buying an additional 59,018 shares in the last quarter. TimesSquare Capital Management LLC increased its position in FARO Technologies by 1.6% during the 2nd quarter. TimesSquare Capital Management LLC now owns 803,939 shares of the scientific and technical instruments company’s stock valued at $30,389,000 after buying an additional 12,430 shares in the last quarter. Royce & Associates LP increased its position in FARO Technologies by 1.7% during the 2nd quarter. Royce & Associates LP now owns 701,900 shares of the scientific and technical instruments company’s stock valued at $26,532,000 after buying an additional 11,500 shares in the last quarter. Finally, State Street Corp increased its position in FARO Technologies by 4.0% during the 2nd quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock valued at $15,381,000 after buying an additional 15,551 shares in the last quarter. 94.70% of the stock is owned by institutional investors.

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About FARO Technologies

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)

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