Analysts Set FARO Technologies, Inc. (FARO) PT at $52.75

Shares of FARO Technologies, Inc. (NASDAQ:FARO) have been given an average rating of “Hold” by the nine research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $52.75.

A number of research firms have commented on FARO. Zacks Investment Research upgraded FARO Technologies from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a research report on Monday, January 1st. Stifel Nicolaus upped their price target on FARO Technologies from $33.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price target (up previously from $39.00) on shares of FARO Technologies in a research report on Sunday, October 29th. Craig Hallum set a $55.00 price target on FARO Technologies and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, BidaskClub upgraded FARO Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th.

Institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its position in shares of FARO Technologies by 3.7% during 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 boosted its position in shares of 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 purchasing an additional 59,018 shares in the last quarter. Tikvah Management LLC bought a new stake in shares of FARO Technologies during the 3rd quarter valued at about $13,444,000. Princeton Capital Management Inc. boosted its position in shares of FARO Technologies by 12.4% during 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 boosted its position in shares of 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 purchasing an additional 15,551 shares in the last quarter. Institutional investors own 97.56% of the company’s stock.

FARO Technologies (NASDAQ:FARO) traded down $2.10 during midday trading on Friday, hitting $51.95. The company’s stock had a trading volume of 103,516 shares, compared to its average volume of 83,455. FARO Technologies has a 1 year low of $31.90 and a 1 year high of $54.80. The company has a market cap of $868.14, a price-to-earnings ratio of -5,405,000.00 and a beta of 1.62.

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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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