Faro Technologies Inc. (FARO) Shares Up 2.7%
Faro Technologies Inc. (NASDAQ:FARO) shares shot up 2.7% on Thursday . The stock traded as high as $33.51 and last traded at $33.47, with a volume of 67,508 shares. The stock had previously closed at $32.60.
Several research firms have weighed in on FARO. Needham & Company LLC restated a “buy” rating and issued a $39.00 price target on shares of Faro Technologies in a research note on Friday, July 15th. FBR & Co restated a “market perform” rating and issued a $34.00 price target on shares of Faro Technologies in a research note on Wednesday, May 11th. 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 note on Thursday, May 5th. Canaccord Genuity reiterated a “buy” rating and set a $38.00 target price on shares of Faro Technologies in a research report on Wednesday, May 4th. Finally, Zacks Investment Research downgraded Faro Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.71.
The company has a market cap of $552.91 million and a P/E ratio of 38.78. The firm’s 50 day moving average is $33.74 and its 200-day moving average is $32.75.
Faro Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.08. The company earned $78.50 million during the quarter, compared to the consensus estimate of $84.38 million. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. Equities research analysts forecast that Faro Technologies Inc. will post $1.05 earnings per share for the current fiscal year.
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.