BidaskClub upgraded shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a hold rating in a research note released on Wednesday morning.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded FARO Technologies from a hold rating to a buy rating and set a $54.00 price target for the company in a research note on Wednesday, February 20th. Gabelli upgraded FARO Technologies from a hold rating to a buy rating in a research note on Wednesday, February 20th. Craig Hallum cut FARO Technologies from a buy rating to a hold rating in a research note on Thursday, February 21st. Finally, ValuEngine upgraded FARO Technologies from a sell rating to a hold rating in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $56.95.

FARO Technologies stock opened at $47.64 on Wednesday. FARO Technologies has a 12 month low of $37.58 and a 12 month high of $70.20. The company has a market cap of $825.56 million, a PE ratio of 103.57 and a beta of 1.52.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Tuesday, February 19th. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.09). FARO Technologies had a return on equity of 3.21% and a net margin of 1.22%. The company had revenue of $112.84 million for the quarter, compared to analysts’ expectations of $118.59 million. During the same quarter last year, the company earned $0.50 EPS. FARO Technologies’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that FARO Technologies will post 1.45 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in FARO Technologies by 61.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,323 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 505 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in FARO Technologies in the fourth quarter worth $98,000. AdvisorNet Financial Inc raised its position in FARO Technologies by 11.9% in the fourth quarter. AdvisorNet Financial Inc now owns 2,585 shares of the scientific and technical instruments company’s stock worth $105,000 after acquiring an additional 275 shares in the last quarter. Flinton Capital Management LLC raised its position in FARO Technologies by 12.9% in the fourth quarter. Flinton Capital Management LLC now owns 2,940 shares of the scientific and technical instruments company’s stock worth $119,000 after acquiring an additional 336 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in FARO Technologies in the fourth quarter worth $128,000. Institutional investors and hedge funds own 95.00% 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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