Brokerages Set Faro Technologies Inc. (NASDAQ:FARO) Price Target at $37.00
Faro Technologies Inc. (NASDAQ:FARO) has earned an average rating of “Hold” from the nine research firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $37.00.
FARO has been the subject of several research analyst reports. Needham & Company LLC cut their target price on shares of Faro Technologies from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 target price on shares of Faro Technologies in a research note on Thursday, August 4th. Finally, Zacks Investment Research cut shares of Faro Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.
Shares of Faro Technologies (NASDAQ:FARO) opened at 36.65 on Monday. The company has a market capitalization of $611.10 million, a P/E ratio of 42.87 and a beta of 1.78. The stock’s 50 day moving average is $33.52 and its 200-day moving average is $33.31. Faro Technologies has a 12-month low of $20.72 and a 12-month high of $40.51.
Faro Technologies (NASDAQ:FARO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The company had revenue of $78.50 million for the quarter, compared to analysts’ expectations of $84.38 million. Faro Technologies had a net margin of 4.55% and a return on equity of 4.86%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Analysts anticipate that Faro Technologies will post $1.05 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC purchased a new stake in Faro Technologies during the second quarter valued at about $110,000. Emerald Acquisition Ltd. purchased a new stake in Faro Technologies during the second quarter valued at about $119,000. BlackRock Inc. raised its stake in Faro Technologies by 182.9% in the second quarter. BlackRock Inc. now owns 3,983 shares of the company’s stock valued at $134,000 after buying an additional 2,575 shares during the period. BNP Paribas Arbitrage SA raised its stake in Faro Technologies by 105.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,199 shares of the company’s stock valued at $176,000 after buying an additional 2,664 shares during the period. Finally, Barclays PLC raised its stake in Faro Technologies by 672.8% in the second quarter. Barclays PLC now owns 5,750 shares of the company’s stock valued at $195,000 after buying an additional 5,006 shares during the period. Hedge funds and other institutional investors own 92.55% of the company’s stock.
Faro Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Americas, Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.
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