FARO Technologies (FARO) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of FARO Technologies (NASDAQ:FARO) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other research firms have also recently commented on FARO. Noble Financial reiterated a buy rating on shares of FARO Technologies in a research note on Friday, November 3rd. Stifel Nicolaus lifted their price objective on FARO Technologies from $33.00 to $46.00 and gave the stock a hold rating in a report on Monday, October 30th. Craig Hallum set a $55.00 price objective on FARO Technologies and gave the stock a buy rating in a report on Monday, October 30th. ValuEngine raised FARO Technologies from a sell rating to a hold rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised FARO Technologies from a strong sell rating to a hold rating in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $51.17.

Shares of FARO Technologies (NASDAQ:FARO) opened at $47.45 on Friday. FARO Technologies has a 52 week low of $31.90 and a 52 week high of $54.40.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.14. The company had revenue of $90.25 million for the quarter, compared to analysts’ expectations of $89.34 million. FARO Technologies had a return on equity of 0.03% and a net margin of 0.03%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. analysts anticipate that FARO Technologies will post 0.1 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in FARO. Teachers Advisors LLC increased its holdings in FARO Technologies by 4.6% in the 1st quarter. Teachers Advisors LLC now owns 30,898 shares of the scientific and technical instruments company’s stock worth $1,105,000 after acquiring an additional 1,360 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in FARO Technologies by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 71,705 shares of the scientific and technical instruments company’s stock worth $2,564,000 after acquiring an additional 3,915 shares during the last quarter. Bank of America Corp DE grew its holdings in FARO Technologies by 93.7% during the 1st quarter. Bank of America Corp DE now owns 26,241 shares of the scientific and technical instruments company’s stock valued at $938,000 after buying an additional 12,696 shares in the last quarter. State Street Corp grew its holdings in FARO Technologies by 6.5% during the 1st quarter. State Street Corp now owns 391,390 shares of the scientific and technical instruments company’s stock valued at $13,988,000 after buying an additional 24,013 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in FARO Technologies by 2.6% during the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock valued at $224,000 after buying an additional 150 shares in the last quarter. 97.56% of the stock is owned by institutional investors.

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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.

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