FARO Technologies, Inc. (NASDAQ:FARO) has received a consensus rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $53.00.

FARO has been the subject of a number of analyst reports. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a research report on Friday, November 3rd. BidaskClub cut shares of FARO Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, December 16th. Stifel Nicolaus increased their price target on shares of FARO Technologies from $33.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Craig Hallum set a $55.00 price target on shares of FARO Technologies and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Zacks Investment Research raised shares of FARO Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd.

FARO Technologies (NASDAQ:FARO) traded up $0.60 during trading hours on Monday, reaching $52.45. 54,200 shares of the company’s stock were exchanged, compared to its average volume of 84,589. The stock has a market cap of $876.50, a PE ratio of -5,245,000.00 and a beta of 1.43. FARO Technologies has a one year low of $31.90 and a one year high of $54.40.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14. The company had revenue of $90.25 million during 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 for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 EPS. analysts forecast that FARO Technologies will post 0.1 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in shares of FARO Technologies by 3.7% during the second quarter. Ameriprise Financial Inc. now owns 195,157 shares of the scientific and technical instruments company’s stock worth $7,377,000 after purchasing an additional 6,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of FARO Technologies by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,966 shares of the scientific and technical instruments company’s stock worth $39,198,000 after purchasing an additional 59,018 shares during the last quarter. Tikvah Management LLC bought a new position in shares of FARO Technologies during the third quarter worth about $13,444,000. Princeton Capital Management Inc. raised its stake in FARO Technologies by 12.4% during the third quarter. Princeton Capital Management Inc. now owns 48,909 shares of the scientific and technical instruments company’s stock worth $1,871,000 after acquiring an additional 5,389 shares during the period. Finally, State Street Corp raised its stake in FARO Technologies by 4.0% during the second quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock worth $15,381,000 after acquiring an additional 15,551 shares during the period. 97.56% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was first reported by Daily Political and is the property of of Daily Political. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2018/01/15/faro-technologies-inc-faro-given-consensus-recommendation-of-buy-by-brokerages.html.

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.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.