FARO Technologies, Inc. (NASDAQ:FARO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “FARO Technologies, Inc. is the world’s most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes. FARO Technologies capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel, and also Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication. “

A number of other brokerages have also weighed in on FARO. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a research note on Friday, November 3rd. Craig Hallum set a $55.00 price target on FARO Technologies and gave the stock a “buy” rating in a research note on Monday, October 30th. Stifel Nicolaus increased their price target on FARO Technologies from $33.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, October 30th. Canaccord Genuity reissued a “buy” rating and set a $52.00 price target (up previously from $42.00) on shares of FARO Technologies in a research note on Monday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 target price (up from $39.00) on shares of FARO Technologies in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. FARO Technologies has an average rating of “Hold” and an average price target of $50.33.

Shares of FARO Technologies (NASDAQ FARO) traded up $0.25 during trading hours on Monday, reaching $53.00. The company’s stock had a trading volume of 158,700 shares, compared to its average volume of 96,248. FARO Technologies has a 52-week low of $31.90 and a 52-week high of $54.40.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share 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 company had revenue of $90.25 million for the quarter, compared to analyst estimates of $89.34 million. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities research analysts forecast that FARO Technologies will post 0.1 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of 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 valued at $59,986,000 after acquiring an additional 65,588 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of FARO Technologies by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,096,494 shares of the scientific and technical instruments company’s stock valued at $41,941,000 after acquiring an additional 59,528 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of 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 valued at $30,389,000 after acquiring an additional 12,430 shares in the last quarter. Royce & Associates LP grew its stake in shares of 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 valued at $26,532,000 after acquiring an additional 11,500 shares in the last quarter. Finally, State Street Corp grew its stake in shares of 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 valued at $15,381,000 after acquiring an additional 15,551 shares in the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.

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.

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Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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