FARO Technologies, Inc. (NASDAQ:FARO) had its price target boosted by Canaccord Genuity from $38.00 to $42.00 in a report released on Thursday. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

Several other research analysts also recently commented on the company. Gabelli downgraded FARO Technologies from a buy rating to a hold rating and set a $38.00 target price for the company. in a research note on Thursday. ValuEngine upgraded FARO Technologies from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Craig Hallum began coverage on FARO Technologies in a research note on Tuesday, June 27th. They set a buy rating and a $45.00 target price for the company. Needham & Company LLC boosted their price target on FARO Technologies from $37.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, May 30th. Finally, Noble Financial restated a buy rating on shares of FARO Technologies in a research note on Saturday, May 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $40.60.

Shares of FARO Technologies (NASDAQ FARO) opened at 34.05 on Thursday. The company’s market capitalization is $568.91 million. The stock has a 50 day moving average price of $38.04 and a 200 day moving average price of $36.26. FARO Technologies has a 52-week low of $29.00 and a 52-week high of $40.60.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.34. FARO Technologies had a negative return on equity of 0.13% and a negative net margin of 0.13%. The business had revenue of $82.68 million for the quarter, compared to the consensus estimate of $87.65 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that FARO Technologies will post $0.20 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its stake in FARO Technologies by 71.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock valued at $225,000 after buying an additional 2,490 shares during the period. Legal & General Group Plc increased its stake in FARO Technologies by 9.1% in the second quarter. Legal & General Group Plc now owns 32,203 shares of the scientific and technical instruments company’s stock valued at $1,218,000 after buying an additional 2,696 shares during the period. Schwab Charles Investment Management Inc. increased its stake in FARO Technologies by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 72,526 shares of the scientific and technical instruments company’s stock valued at $2,742,000 after buying an additional 821 shares during the period. Global X Management Co. LLC increased its stake in FARO Technologies by 237.5% in the second quarter. Global X Management Co. LLC now owns 31,185 shares of the scientific and technical instruments company’s stock valued at $1,179,000 after buying an additional 21,945 shares during the period. Finally, Texas Permanent School Fund increased its stake in FARO Technologies by 0.9% in the second quarter. Texas Permanent School Fund now owns 12,187 shares of the scientific and technical instruments company’s stock valued at $461,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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