Zacks Investment Research upgraded shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “FARO Technologies, Inc. is the world’s most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes. FARO Technologies capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel, and also Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication. “

Other equities analysts have also issued reports about the company. ValuEngine raised FARO Technologies from a buy rating to a strong-buy rating in a research note on Friday, November 8th. Gabelli lowered FARO Technologies from a buy rating to a hold rating and set a $50.00 target price on the stock. in a research report on Thursday, October 31st. G.Research lowered FARO Technologies from a buy rating to a hold rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a hold rating on shares of FARO Technologies in a research report on Wednesday, October 16th. Finally, BidaskClub raised FARO Technologies from a strong sell rating to a sell rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $52.00.

FARO traded down $0.31 during trading on Thursday, hitting $48.55. The company’s stock had a trading volume of 66,600 shares, compared to its average volume of 98,396. FARO Technologies has a twelve month low of $37.58 and a twelve month high of $57.58. The company has a quick ratio of 2.56, a current ratio of 3.32 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $47.96 and its 200-day moving average price is $49.44. The firm has a market capitalization of $843.05 million, a P/E ratio of 105.54 and a beta of 1.71.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). FARO Technologies had a positive return on equity of 2.98% and a negative net margin of 1.71%. The firm had revenue of $90.52 million for the quarter, compared to analyst estimates of $98.57 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts expect that FARO Technologies will post -0.7 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of FARO Technologies by 395.8% during the third quarter. Tower Research Capital LLC TRC now owns 818 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 653 shares during the period. US Bancorp DE raised its position in shares of FARO Technologies by 82.7% during the second quarter. US Bancorp DE now owns 1,253 shares of the scientific and technical instruments company’s stock worth $66,000 after purchasing an additional 567 shares during the period. Bank of Montreal Can raised its position in FARO Technologies by 29.1% in the 2nd quarter. Bank of Montreal Can now owns 4,765 shares of the scientific and technical instruments company’s stock valued at $251,000 after buying an additional 1,075 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in FARO Technologies in the 2nd quarter valued at $298,000. Finally, Aperio Group LLC raised its position in FARO Technologies by 3.1% in the 2nd quarter. Aperio Group LLC now owns 7,250 shares of the scientific and technical instruments company’s stock valued at $381,000 after buying an additional 216 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

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