FARO Technologies, Inc. (FARO) Receives Consensus Rating of “Hold” from Analysts

Shares of FARO Technologies, Inc. (NASDAQ:FARO) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $52.75.

FARO has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $53.00 price target (up from $39.00) on shares of FARO Technologies in a research note on Sunday, October 29th. Craig Hallum set a $60.00 price target on FARO Technologies and gave the company a “buy” rating in a research note on Monday, November 27th. Zacks Investment Research raised FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, November 14th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a research note on Friday, November 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $52.00 price target (up from $42.00) on shares of FARO Technologies in a research note on Monday, October 30th.

Shares of FARO Technologies (NASDAQ:FARO) traded up $0.90 during mid-day trading on Friday, hitting $50.70. The stock had a trading volume of 100,244 shares, compared to its average volume of 84,791. FARO Technologies has a 12-month low of $31.90 and a 12-month high of $54.80. The firm has a market capitalization of $836.39, a price-to-earnings ratio of -5,070,000.00 and a beta of 1.62.

Several institutional investors have recently bought and sold shares of FARO. Municipal Employees Retirement System of Michigan lifted its stake in shares of FARO Technologies by 59.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock worth $239,000 after acquiring an additional 2,330 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of FARO Technologies in the fourth quarter worth approximately $272,000. Voya Investment Management LLC lifted its stake in shares of FARO Technologies by 13.5% in the second quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock worth $310,000 after acquiring an additional 974 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of FARO Technologies by 50.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock worth $343,000 after acquiring an additional 2,999 shares during the period. Finally, Advisory Research Inc. acquired a new position in shares of FARO Technologies in the fourth quarter worth approximately $354,000. 97.97% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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