FARO Technologies (NASDAQ:FARO)‘s stock had its “buy” rating reaffirmed by research analysts at Craig Hallum in a report issued on Friday. They presently have a $68.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $60.00. Craig Hallum’s price target would indicate a potential upside of 13.33% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, November 14th. Canaccord Genuity reiterated a “buy” rating and set a $66.00 price objective on shares of FARO Technologies in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $53.00 price objective (up from $39.00) on shares of FARO Technologies in a report on Sunday, October 29th. Noble Financial reiterated a “buy” rating on shares of FARO Technologies in a report on Friday, November 3rd. Finally, Stifel Nicolaus raised their price target on shares of FARO Technologies from $33.00 to $46.00 and gave the company a “hold” rating in a report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. FARO Technologies currently has an average rating of “Hold” and an average target price of $56.17.
FARO Technologies (NASDAQ FARO) opened at $60.00 on Friday. The firm has a market cap of $996.85, a PE 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.
A number of hedge funds and other institutional investors have recently bought and sold shares of FARO. Paradice Investment Management LLC purchased a new position in FARO Technologies in the fourth quarter valued at approximately $24,698,000. Tikvah Management LLC purchased a new position in FARO Technologies in the third quarter valued at approximately $13,444,000. Vident Investment Advisory LLC raised its holdings in FARO Technologies by 62.7% in the third quarter. Vident Investment Advisory LLC now owns 564,729 shares of the scientific and technical instruments company’s stock valued at $21,601,000 after buying an additional 217,544 shares during the period. Millennium Management LLC purchased a new position in FARO Technologies in the fourth quarter valued at approximately $10,070,000. Finally, Castleark Management LLC purchased a new position in FARO Technologies in the fourth quarter valued at approximately $6,758,000. Hedge funds and other institutional investors own 98.57% of the company’s stock.
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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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