FARO Technologies (NASDAQ:FARO) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of FARO Technologies (NASDAQ:FARO) from a buy rating to a hold rating in a research report released on Saturday, BidAskClub reports.

FARO has been the topic of several other research reports. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. ValuEngine upgraded Zuora from a hold rating to a buy rating in a research note on Saturday, July 6th. Finally, Needham & Company LLC restated a buy rating and issued a $200.00 target price (up previously from $140.00) on shares of Universal Display in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $56.95.

Shares of FARO opened at $48.23 on Friday. The firm has a market cap of $850.36 million, a price-to-earnings ratio of 104.85 and a beta of 1.77. The company has a 50 day simple moving average of $48.19. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.34 and a quick ratio of 2.54. FARO Technologies has a 52-week low of $37.58 and a 52-week high of $70.20.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.13). The firm had revenue of $93.61 million during the quarter, compared to the consensus estimate of $101.85 million. FARO Technologies had a net margin of 1.14% and a return on equity of 3.11%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, research analysts anticipate that FARO Technologies will post 0.95 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FARO. Comerica Bank grew its position in FARO Technologies by 1.8% during the 4th quarter. Comerica Bank now owns 16,724 shares of the scientific and technical instruments company’s stock worth $674,000 after purchasing an additional 289 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of FARO Technologies by 1,548.4% in the fourth quarter. First Trust Advisors LP now owns 65,260 shares of the scientific and technical instruments company’s stock valued at $2,652,000 after acquiring an additional 61,301 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of FARO Technologies by 1.7% in the fourth quarter. BlackRock Inc. now owns 2,510,748 shares of the scientific and technical instruments company’s stock valued at $102,037,000 after acquiring an additional 42,081 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of FARO Technologies by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 196,233 shares of the scientific and technical instruments company’s stock valued at $7,975,000 after acquiring an additional 3,943 shares in the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of FARO Technologies by 5.7% in the fourth quarter. Texas Permanent School Fund now owns 11,290 shares of the scientific and technical instruments company’s stock valued at $459,000 after acquiring an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

FARO Technologies Company Profile

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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Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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