BidaskClub upgraded shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of FARO Technologies from a sell rating to a hold rating in a research report on Monday. ValuEngine cut shares of FARO Technologies from a buy rating to a hold rating in a research report on Wednesday, September 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $56.95.

FARO stock traded down $0.33 during midday trading on Thursday, reaching $54.54. 57,406 shares of the company were exchanged, compared to its average volume of 72,693. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.16 and a quick ratio of 2.45. The business has a 50-day moving average price of $50.52 and a two-hundred day moving average price of $49.39. FARO Technologies has a one year low of $37.58 and a one year high of $67.36. The firm has a market capitalization of $920.18 million, a price-to-earnings ratio of 118.57 and a beta of 1.77.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.27. FARO Technologies had a negative net margin of 0.75% and a positive return on equity of 3.42%. The firm had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $96.32 million. During the same period in the previous year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, analysts anticipate that FARO Technologies will post 0.25 earnings per share for the current fiscal year.

In other news, Director John Donofrio sold 2,873 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $52.43, for a total value of $150,631.39. Following the completion of the sale, the director now owns 21,075 shares of the company’s stock, valued at $1,104,962.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in FARO Technologies by 258.3% in the fourth quarter. Bank of America Corp DE now owns 20,093 shares of the scientific and technical instruments company’s stock valued at $816,000 after purchasing an additional 14,485 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in FARO Technologies by 402.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,988 shares of the scientific and technical instruments company’s stock valued at $175,000 after purchasing an additional 3,194 shares in the last quarter. SG Americas Securities LLC acquired a new position in FARO Technologies in the first quarter valued at about $251,000. Comerica Bank raised its stake in FARO Technologies by 2.3% in the first quarter. Comerica Bank now owns 17,102 shares of the scientific and technical instruments company’s stock valued at $960,000 after purchasing an additional 378 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in FARO Technologies by 3.8% in the first quarter. Texas Permanent School Fund now owns 11,715 shares of the scientific and technical instruments company’s stock valued at $514,000 after purchasing an additional 425 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

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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