FARO Technologies (NASDAQ:FARO)‘s stock had its “buy” rating reissued by stock analysts at Craig Hallum in a research note issued on Friday. They presently have a $68.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $60.00. Craig Hallum’s price target would suggest a potential upside of 13.33% from the company’s current price.
FARO has been the subject of a number of other research reports. Zacks Investment Research downgraded FARO Technologies from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Noble Financial reiterated a “buy” rating on shares of FARO Technologies in a report on Friday, November 3rd. BidaskClub downgraded FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. Canaccord Genuity restated a “buy” rating and set a $52.00 price target (up from $42.00) on shares of FARO Technologies in a report on Monday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $53.00 price target (up from $39.00) on shares of FARO Technologies in a report on Sunday, October 29th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $56.17.
FARO Technologies (NASDAQ:FARO) opened at $60.00 on Friday. The stock has a market capitalization of $996.85, a price-to-earnings ratio of -29.70 and a beta of 1.62. FARO Technologies has a twelve month low of $31.90 and a twelve month high of $62.15.
Large investors have recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of FARO Technologies during the fourth quarter valued at $272,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of FARO Technologies by 59.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock valued at $239,000 after acquiring an additional 2,330 shares in the last quarter. Advisory Research Inc. bought a new position in shares of FARO Technologies during the fourth quarter valued at $354,000. New England Investment & Retirement Group Inc. bought a new position in shares of FARO Technologies during the fourth quarter valued at $355,000. Finally, Voya Investment Management LLC increased its holdings in shares of FARO Technologies by 13.5% during the second quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock valued at $310,000 after acquiring an additional 974 shares in the last quarter. Hedge funds and other institutional investors own 98.57% of the company’s stock.
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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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