Faro Technologies (NASDAQ:FARO) has received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $61.25.
A number of research analysts have issued reports on FARO shares. Zacks Investment Research cut shares of Faro Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 25th. Noble Financial reaffirmed a “buy” rating on shares of Faro Technologies in a report on Friday, February 23rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $66.00 price target on shares of Faro Technologies in a report on Thursday, February 22nd. BidaskClub cut shares of Faro Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $68.00 price target (up previously from $60.00) on shares of Faro Technologies in a report on Friday, February 23rd.
NASDAQ:FARO traded up $0.65 during midday trading on Thursday, reaching $55.60. 71,407 shares of the stock traded hands, compared to its average volume of 96,499. Faro Technologies has a 12-month low of $32.25 and a 12-month high of $65.35. The stock has a market capitalization of $958.29 million, a price-to-earnings ratio of 191.72 and a beta of 1.50.
Faro Technologies (NASDAQ:FARO) last posted its earnings results on Wednesday, April 25th. The scientific and technical instruments company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.05). The firm had revenue of $92.83 million for the quarter, compared to analysts’ expectations of $92.92 million. Faro Technologies had a negative net margin of 3.39% and a positive return on equity of 1.91%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. equities analysts anticipate that Faro Technologies will post 0.84 earnings per share for the current fiscal year.
In other Faro Technologies news, insider Simon Raab sold 11,700 shares of the firm’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $59.93, for a total value of $701,181.00. Following the completion of the transaction, the insider now owns 38,478 shares of the company’s stock, valued at $2,305,986.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FARO. OMERS ADMINISTRATION Corp acquired a new stake in shares of Faro Technologies in the first quarter worth $216,000. Teacher Retirement System of Texas acquired a new stake in shares of Faro Technologies in the fourth quarter worth $272,000. Russell Investments Group Ltd. increased its stake in shares of Faro Technologies by 704.1% in the first quarter. Russell Investments Group Ltd. now owns 5,862 shares of the scientific and technical instruments company’s stock worth $342,000 after acquiring an additional 5,133 shares during the period. Advisory Research Inc. acquired a new stake in shares of Faro Technologies in the fourth quarter worth $354,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Faro Technologies in the fourth quarter worth $402,000. Hedge funds and other institutional investors own 92.43% of the company’s stock.
About Faro Technologies
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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