Faro Technologies Inc. (FARO) Upgraded to Hold by Zacks Investment Research
According to Zacks, “FARO Technologies, Inc. and its international subsidiaries are pioneers and market leaders in the computer-aided manufacturing measurement market, which is the final frontier of the computer-aided design and computer-aided manufacturing revolution. FARO’s product line includes portable, 3D measurement equipment, computer-aided design-based inspection software for portable and fixed-base coordinate measurement machines, as well as factory-level statistical process control, and manufacturing quality consulting services. (Company Press Release) “
FARO has been the topic of a number of other reports. Needham & Company LLC decreased their price target on 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 restated a buy rating and issued a $38.00 price target on shares of Faro Technologies in a research note on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Faro Technologies has a consensus rating of Hold and an average target price of $36.71.
Shares of Faro Technologies (NASDAQ:FARO) opened at 35.34 on Tuesday. The firm has a 50-day moving average price of $33.90 and a 200 day moving average price of $33.41. The stock has a market capitalization of $589.26 million, a PE ratio of 41.33 and a beta of 1.72. Faro Technologies has a one year low of $20.72 and a one year high of $40.51.
Faro Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.08. Faro Technologies had a net margin of 4.55% and a return on equity of 4.86%. The business earned $78.50 million during the quarter, compared to analysts’ expectations of $84.38 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Faro Technologies will post $1.05 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC bought a new position in Faro Technologies during the second quarter worth $110,000. Emerald Acquisition Ltd. bought a new position in Faro Technologies during the second quarter worth $119,000. BlackRock Inc. boosted its position in Faro Technologies by 182.9% in the second quarter. BlackRock Inc. now owns 3,983 shares of the company’s stock worth $134,000 after buying an additional 2,575 shares during the period. BNP Paribas Arbitrage SA boosted its position in Faro Technologies by 105.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,199 shares of the company’s stock worth $176,000 after buying an additional 2,664 shares during the period. Finally, Barclays PLC boosted its position in Faro Technologies by 672.8% in the second quarter. Barclays PLC now owns 5,750 shares of the company’s stock worth $195,000 after buying an additional 5,006 shares during the period. 92.55% of the stock is owned by hedge funds and other institutional investors.
Faro Technologies Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Faro Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Faro Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.