Several other research analysts also recently weighed in on FARO. Needham & Company LLC restated a buy rating and issued a $38.00 price target (up from $35.00) on shares of FARO Technologies in a research note on Friday, February 24th. Zacks Investment Research downgraded FARO Technologies from a hold rating to a sell rating in a research report on Friday, February 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. FARO Technologies has an average rating of Buy and a consensus price target of $38.67.
Shares of FARO Technologies (NASDAQ FARO) opened at 35.90 on Thursday. The company has a market capitalization of $599.24 million, a price-to-earnings ratio of 92.05 and a beta of 1.23. FARO Technologies has a 12 month low of $29.00 and a 12 month high of $40.15. The firm’s 50-day moving average is $35.86 and its 200 day moving average is $36.14.
FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Tuesday, May 9th. The scientific and technical instruments company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.14. FARO Technologies had a return on equity of 1.92% and a net margin of 1.98%. The business had revenue of $81.60 million during the quarter, compared to the consensus estimate of $77.74 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts expect that FARO Technologies will post $0.55 EPS for the current year.
A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of FARO Technologies during the first quarter worth about $116,000. Trent Capital Management Inc. NC bought a new stake in shares of FARO Technologies during the fourth quarter worth about $131,000. Municipal Employees Retirement System of Michigan increased its stake in shares of FARO Technologies by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,690 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 60 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of FARO Technologies by 80.3% in the third quarter. Acrospire Investment Management LLC now owns 3,704 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 1,650 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in shares of FARO Technologies by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,901 shares of the scientific and technical instruments company’s stock worth $139,000 after buying an additional 257 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.
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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