Faro Technologies Inc. (NASDAQ:FARO) shares traded up 4.4% during trading on Wednesday . The company traded as high as $35.65 and last traded at $35.56, with a volume of 73,987 shares trading hands. The stock had previously closed at $34.05.

A number of research analysts have recently commented on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price objective on shares of Faro Technologies in a research note on Wednesday, May 4th. Zacks Investment Research raised shares of Faro Technologies from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, April 26th. FBR & Co reaffirmed a “market perform” rating and set a $34.00 price objective on shares of Faro Technologies in a research note on Wednesday, May 11th. Needham & Company LLC upped their price objective on shares of Faro Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Finally, Noble Financial raised shares of Faro Technologies from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Thursday, May 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.14.

The firm has a 50-day moving average price of $34.93 and a 200-day moving average price of $30.71. The company has a market capitalization of $592.28 million and a PE ratio of 39.97.

Faro Technologies (NASDAQ:FARO) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.15. The company earned $75.70 million during the quarter, compared to analyst estimates of $71.74 million. During the same quarter last year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Faro Technologies Inc. will post $1.25 earnings per share for the current year.

In related news, Director Stephen Cole purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average price of $33.80 per share, for a total transaction of $169,000.00. Following the transaction, the director now directly owns 19,196 shares of the company’s stock, valued at approximately $648,824.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Other institutional investors recently added to or reduced their stakes in the company. Comerica Bank raised its position in Faro Technologies by 20.9% in the fourth quarter. Comerica Bank now owns 48,699 shares of the company’s stock worth $1,195,000 after buying an additional 8,432 shares during the period. Kornitzer Capital Management Inc. KS raised its position in Faro Technologies by 14.0% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 97,514 shares of the company’s stock worth $2,879,000 after buying an additional 12,000 shares during the period. Mutual of America Capital Management LLC raised its position in Faro Technologies by 28.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 131,267 shares of the company’s stock worth $3,875,000 after buying an additional 29,367 shares during the period. Royce & Associates LLC raised its position in Faro Technologies by 13.3% in the fourth quarter. Royce & Associates LLC now owns 661,400 shares of the company’s stock worth $19,525,000 after buying an additional 77,800 shares during the period. Finally, Morgan Stanley raised its position in Faro Technologies by 47.2% in the fourth quarter. Morgan Stanley now owns 293,034 shares of the company’s stock worth $8,650,000 after buying an additional 93,987 shares during the period.

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Americas, Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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