FARO Technologies, Inc. (NASDAQ:FARO) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $42.00.

FARO has been the topic of several recent research reports. BidaskClub lowered shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Craig Hallum initiated coverage on shares of FARO Technologies in a report on Tuesday, June 27th. They issued a “buy” rating and a $45.00 price target on the stock. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC upped their price target on shares of FARO Technologies from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Finally, Canaccord Genuity upped their price target on shares of FARO Technologies from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 3rd.

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Shares of FARO Technologies (NASDAQ:FARO) traded up 1.11% during trading on Tuesday, reaching $36.35. The company had a trading volume of 187,929 shares. The stock’s market capitalization is $607.34 million. FARO Technologies has a 1-year low of $29.00 and a 1-year high of $40.60. The company’s 50 day moving average is $34.58 and its 200-day moving average is $35.57.

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

Several institutional investors have recently modified their holdings of FARO. Teachers Advisors LLC raised its position in shares of FARO Technologies by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 29,538 shares of the scientific and technical instruments company’s stock worth $1,063,000 after acquiring an additional 234 shares during the period. Louisiana State Employees Retirement System raised its position in shares of FARO Technologies by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the scientific and technical instruments company’s stock worth $243,000 after acquiring an additional 100 shares during the period. Great West Life Assurance Co. Can raised its position in shares of FARO Technologies by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 23,154 shares of the scientific and technical instruments company’s stock worth $827,000 after acquiring an additional 1,429 shares during the period. Bank of New York Mellon Corp raised its position in shares of FARO Technologies by 9.3% in the first quarter. Bank of New York Mellon Corp now owns 521,458 shares of the scientific and technical instruments company’s stock worth $18,642,000 after acquiring an additional 44,526 shares during the period. Finally, Comerica Bank raised its position in shares of FARO Technologies by 3.7% in the first quarter. Comerica Bank now owns 18,419 shares of the scientific and technical instruments company’s stock worth $689,000 after acquiring an additional 664 shares during the period. Institutional investors and hedge funds own 94.64% of the company’s stock.

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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