FARO Technologies, Inc. (NASDAQ:FARO) has received a consensus rating of “Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.00.
FARO has been the subject of a number of research analyst reports. 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 Tuesday, November 14th. Craig Hallum set a $55.00 price objective on FARO Technologies and gave the stock a “buy” rating in a report on Monday, October 30th. Needham & Company LLC restated a “buy” rating and set a $53.00 price objective (up from $39.00) on shares of FARO Technologies in a report on Sunday, October 29th. Noble Financial restated a “buy” rating on shares of FARO Technologies in a report on Friday, November 3rd. Finally, BidaskClub downgraded FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, December 16th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in FARO Technologies by 3.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 195,157 shares of the scientific and technical instruments company’s stock valued at $7,377,000 after purchasing an additional 6,955 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in FARO Technologies by 6.0% in 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 purchasing an additional 59,018 shares in the last quarter. Tikvah Management LLC acquired a new stake in FARO Technologies in the 3rd quarter valued at $13,444,000. Princeton Capital Management Inc. increased its holdings in FARO Technologies by 12.4% in the 3rd quarter. Princeton Capital Management Inc. now owns 48,909 shares of the scientific and technical instruments company’s stock valued at $1,871,000 after purchasing an additional 5,389 shares in the last quarter. Finally, State Street Corp increased its holdings in FARO Technologies by 4.0% in 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 purchasing an additional 15,551 shares in the last quarter. Hedge funds and other institutional investors own 97.56% of the company’s stock.
FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.14. The business had revenue of $90.25 million during the quarter, compared to the consensus estimate of $89.34 million. FARO Technologies had a return on equity of 0.03% and a net margin of 0.03%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. analysts expect that FARO Technologies will post 0.1 EPS for the current year.
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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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