FARO Technologies, Inc. (FARO) Stock Rating Reaffirmed by Noble Financial

FARO Technologies, Inc. (NASDAQ:FARO)‘s stock had its “buy” rating restated by analysts at Noble Financial in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday. Craig Hallum set a $55.00 target price on shares of FARO Technologies and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 target price (up previously from $42.00) on shares of FARO Technologies in a research note on Monday. Stifel Nicolaus increased their target price on shares of FARO Technologies from $33.00 to $46.00 and gave the company a “hold” rating in a research note on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $53.00 target price (up previously from $39.00) on shares of FARO Technologies in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $50.33.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The business had revenue of $90.25 million during the quarter, compared to analysts’ expectations of $89.34 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://www.com-unik.info/2017/11/03/faro-technologies-inc-faro-stock-rating-reaffirmed-by-noble-financial.html.

A number of large investors have recently bought and sold shares of the stock. NJ State Employees Deferred Compensation Plan raised its position in FARO Technologies by 33.3% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the scientific and technical instruments company’s stock worth $765,000 after purchasing an additional 5,000 shares in the last quarter. Baillie Gifford & Co. raised its position in FARO Technologies by 4.8% in the third quarter. Baillie Gifford & Co. now owns 228,404 shares of the scientific and technical instruments company’s stock worth $8,736,000 after purchasing an additional 10,424 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in FARO Technologies by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,292 shares of the scientific and technical instruments company’s stock worth $502,000 after purchasing an additional 154 shares in the last quarter. State Street Corp raised its position in FARO Technologies by 4.0% in the second quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock worth $15,381,000 after purchasing an additional 15,551 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in 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 purchasing an additional 974 shares in the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.

About FARO Technologies

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)

What are top analysts saying about FARO Technologies Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for FARO Technologies Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit