Brokerages Set FARO Technologies, Inc. (FARO) Target Price at $39.75

FARO Technologies, Inc. (NASDAQ:FARO) has been given an average recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $39.75.

Several research firms have recently issued reports on FARO. Stifel Nicolaus set a $33.00 price target on shares of FARO Technologies and gave the company a “hold” rating in a research note on Friday, October 6th. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of FARO Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Gabelli downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th.

FARO Technologies (NASDAQ FARO) traded down 0.53% during mid-day trading on Friday, reaching $37.80. 73,870 shares of the company’s stock were exchanged. The firm’s market cap is $631.56 million. The stock has a 50-day moving average of $36.16 and a 200-day moving average of $35.98. FARO Technologies has a 12 month low of $29.00 and a 12 month high of $40.60.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of FARO Technologies by 1.2% during the first quarter. Arizona State Retirement System now owns 8,684 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 100 shares during the period. Texas Permanent School Fund increased its position in shares of FARO Technologies by 0.9% during the second quarter. Texas Permanent School Fund now owns 12,187 shares of the scientific and technical instruments company’s stock worth $461,000 after buying an additional 110 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of FARO Technologies by 3.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock worth $149,000 after buying an additional 130 shares during the period. Aperio Group LLC increased its position in shares of FARO Technologies by 2.6% during the second quarter. Aperio Group LLC now owns 5,927 shares of the scientific and technical instruments company’s stock worth $224,000 after buying an additional 150 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of FARO Technologies by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,292 shares of the scientific and technical instruments company’s stock worth $502,000 after buying an additional 154 shares during the period. Institutional investors own 94.64% of the company’s stock.

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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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