FARO Technologies (NASDAQ:FARO) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

Several other equities research analysts have also weighed in on FARO. G.Research lowered shares of FARO Technologies from a buy rating to a hold rating in a report on Friday, November 1st. ValuEngine raised FARO Technologies from a buy rating to a strong-buy rating in a research report on Friday, November 8th. Zacks Investment Research upgraded FARO Technologies from a sell rating to a hold rating in a report on Thursday, November 14th. Gabelli downgraded shares of FARO Technologies from a buy rating to a hold rating and set a $50.00 price objective for the company. in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a hold rating on shares of FARO Technologies in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $52.00.

FARO traded up $0.49 during mid-day trading on Wednesday, reaching $49.20. The stock had a trading volume of 798 shares, compared to its average volume of 98,139. The firm’s fifty day simple moving average is $48.48 and its two-hundred day simple moving average is $49.12. The stock has a market capitalization of $847.93 million, a P/E ratio of 107.29 and a beta of 1.71. FARO Technologies has a 52 week low of $37.58 and a 52 week high of $57.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.56 and a current ratio of 3.32.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). FARO Technologies had a negative net margin of 1.71% and a positive return on equity of 2.98%. The business had revenue of $90.52 million during the quarter, compared to the consensus estimate of $98.57 million. During the same period in the previous year, the firm posted $0.09 earnings per share. FARO Technologies’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts expect that FARO Technologies will post 0.1 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its stake in shares of FARO Technologies by 1.0% during the second quarter. Arizona State Retirement System now owns 26,881 shares of the scientific and technical instruments company’s stock valued at $1,413,000 after acquiring an additional 266 shares during the last quarter. Fisher Asset Management LLC increased its stake in FARO Technologies by 7.2% in the second quarter. Fisher Asset Management LLC now owns 59,901 shares of the scientific and technical instruments company’s stock valued at $3,150,000 after purchasing an additional 4,040 shares in the last quarter. Aperio Group LLC raised its stake in FARO Technologies by 3.1% during the 2nd quarter. Aperio Group LLC now owns 7,250 shares of the scientific and technical instruments company’s stock worth $381,000 after buying an additional 216 shares during the period. Swiss National Bank increased its holdings in shares of FARO Technologies by 2.2% during the second quarter. Swiss National Bank now owns 32,100 shares of the scientific and technical instruments company’s stock valued at $1,688,000 after acquiring an additional 700 shares in the last quarter. Finally, Teton Advisors Inc. increased its holdings in shares of FARO Technologies by 4.2% during the second quarter. Teton Advisors Inc. now owns 12,300 shares of the scientific and technical instruments company’s stock valued at $647,000 after acquiring an additional 500 shares in the last quarter. 97.59% 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 and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

Featured Story: What is a conference call?

Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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