Faro Technologies Inc. (NASDAQ:FARO)’s share price was up 6.4% during trading on Wednesday . The stock traded as high as $33.79 and last traded at $33.63, with a volume of 192,859 shares traded. The stock had previously closed at $31.62.

Several equities analysts have recently commented on FARO shares. Needham & Company LLC lowered their target price on shares of Faro Technologies from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Zacks Investment Research downgraded shares of Faro Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 5th. FBR & Co restated a “market perform” rating and issued a $34.00 price target on shares of Faro Technologies in a research report on Wednesday, May 11th. Canaccord Genuity restated a “buy” rating and issued a $38.00 price target on shares of Faro Technologies in a research report on Thursday, August 4th. Finally, Noble Financial upgraded shares of Faro Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Faro Technologies presently has an average rating of “Hold” and a consensus target price of $36.71.

The stock has a market cap of $557.29 million and a price-to-earnings ratio of 39.0906. The firm’s 50-day moving average price is $33.68 and its 200-day moving average price is $32.42.

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 analysts’ consensus estimates of $0.28 by $0.08. The company earned $78.50 million during the quarter, compared to analysts’ expectations of $84.38 million. The company’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. On average, equities analysts expect that Faro Technologies Inc. will post $1.05 EPS for the current fiscal year.

A hedge fund recently raised its stake in Faro Technologies stock. Morgan Stanley boosted its stake in shares of Faro Technologies Inc. (NASDAQ:FARO) by 47.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,034 shares of the company’s stock after buying an additional 93,987 shares during the period. Morgan Stanley owned about 1.68% of Faro Technologies worth $8,650,000 as of its most recent filing with the SEC.

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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