Faro Technologies Inc. (FARO) Stock Price Up 6.4%
Faro Technologies Inc. (NASDAQ:FARO)’s share price rose 6.4% on Wednesday . The company traded as high as $33.79 and last traded at $33.63, with a volume of 192,859 shares trading hands. The stock had previously closed at $31.62.
FARO has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Faro Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Needham & Company LLC decreased their price target on Faro Technologies from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 price target on shares of Faro Technologies in a research report on Thursday, August 4th. FBR & Co reiterated a “market perform” rating and issued a $34.00 price target on shares of Faro Technologies in a research report on Wednesday, May 11th. Finally, Noble Financial upgraded Faro Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.71.
The firm has a market capitalization of $555.24 million and a PE ratio of 38.95. The company has a 50 day moving average price of $33.72 and a 200 day moving average price of $32.43.
Faro Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The business earned $78.50 million during the quarter, compared to analysts’ expectations of $84.38 million. During the same period last year, the firm posted $0.32 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Equities research analysts predict that Faro Technologies Inc. will post $1.05 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Faro Technologies stock. Schwab Charles Investment Management Inc. boosted its position in Faro Technologies Inc. (NASDAQ:FARO) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,405 shares of the company’s stock after buying an additional 1,957 shares during the period. Schwab Charles Investment Management Inc. owned about 0.34% of Faro Technologies worth $1,725,000 as of its most recent SEC filing.
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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