FARO Technologies (FARO) Given Buy Rating at Craig Hallum

Craig Hallum reissued their buy rating on shares of FARO Technologies (NASDAQ:FARO) in a research note issued to investors on Friday morning. Craig Hallum currently has a $68.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $60.00.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity reaffirmed a buy rating and issued a $66.00 price objective on shares of FARO Technologies in a research report on Thursday. Zacks Investment Research downgraded shares of FARO Technologies from a strong-buy rating to a hold rating in a research report on Tuesday, February 6th. BidaskClub raised shares of FARO Technologies from a sell rating to a hold rating in a research report on Tuesday, January 9th. Noble Financial reaffirmed a buy rating on shares of FARO Technologies in a research report on Friday, November 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of FARO Technologies from $33.00 to $46.00 and gave the stock a hold rating in a research report on Monday, October 30th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. FARO Technologies currently has a consensus rating of Hold and an average target price of $56.17.

FARO Technologies (NASDAQ:FARO) traded down $0.35 during midday trading on Friday, reaching $60.00. 113,147 shares of the company’s stock were exchanged, compared to its average volume of 89,746. The stock has a market cap of $996.85, a P/E ratio of -29.70 and a beta of 1.62. FARO Technologies has a 1-year low of $31.90 and a 1-year high of $62.15.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.14. FARO Technologies had a negative net margin of 4.02% and a positive return on equity of 1.39%. The firm had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.31 million. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. analysts expect that FARO Technologies will post 0.94 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in FARO. Municipal Employees Retirement System of Michigan boosted its stake in FARO Technologies by 59.3% in the 3rd 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 purchasing an additional 2,330 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in FARO Technologies in the 4th quarter worth approximately $272,000. Voya Investment Management LLC boosted its stake in FARO Technologies by 13.5% in the 2nd quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock worth $310,000 after purchasing an additional 974 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in FARO Technologies by 50.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock worth $343,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Advisory Research Inc. acquired a new stake in FARO Technologies in the 4th quarter worth approximately $354,000. Institutional investors own 98.57% of the company’s stock.

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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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