Faro Technologies Inc. (FARO) Trading Up 2.7%
Faro Technologies Inc. (NASDAQ:FARO) was 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 equities research analysts recently weighed in on FARO shares. Needham & Company LLC cut their target price on shares of Faro Technologies from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 target price on shares of Faro Technologies in a research note on Thursday, August 4th. FBR & Co reaffirmed a “market perform” rating and set a $34.00 target price on shares of Faro Technologies in a research note on Wednesday, May 11th. Finally, Zacks Investment Research downgraded shares of Faro Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Faro Technologies has a consensus rating of “Hold” and an average target price of $36.71.
The stock has a market capitalization of $555.24 million and a P/E ratio of 38.95. The stock’s 50-day moving average is $33.63 and its 200 day moving average is $32.76.
Faro Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.08. During the same period in the prior year, the firm earned $0.32 earnings per share. The business earned $78.50 million during the quarter, compared to analysts’ expectations of $84.38 million. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts expect that Faro Technologies Inc. will post $1.05 EPS for the current 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.
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