FARO Technologies, Inc. (NASDAQ:FARO)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $53.25 and last traded at $53.40, with a volume of 67760 shares changing hands. The stock had previously closed at $52.75.

A number of equities analysts have issued reports on the stock. Gabelli cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Noble Financial reaffirmed a “buy” rating on shares of FARO Technologies in a research note on Thursday, August 3rd. Canaccord Genuity lifted their price target on shares of FARO Technologies from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.33.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.14. The business had revenue of $90.25 million for the quarter, compared to analysts’ expectations of $89.34 million. FARO Technologies had a net margin of 0.03% and a return on equity of 0.03%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. sell-side analysts expect that FARO Technologies, Inc. will post 0.1 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of FARO. State of Alaska Department of Revenue lifted its position in FARO Technologies by 79.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock valued at $124,000 after acquiring an additional 1,454 shares in the last quarter. Victory Capital Management Inc. lifted its position in FARO Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,811 shares of the scientific and technical instruments company’s stock valued at $144,000 after acquiring an additional 572 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in FARO Technologies by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock valued at $149,000 after acquiring an additional 130 shares in the last quarter. Aperio Group LLC lifted its position in FARO Technologies by 2.6% in the 2nd quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock valued at $224,000 after acquiring an additional 150 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in FARO Technologies by 71.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,956 shares of the scientific and technical instruments company’s stock valued at $225,000 after acquiring an additional 2,490 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.

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About FARO Technologies

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.

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