Press coverage about FARO Technologies (NASDAQ:FARO) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. FARO Technologies earned a news sentiment score of 0.05 on Accern’s scale. Accern also assigned press coverage about the scientific and technical instruments company an impact score of 44.8561894220273 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
- LiDAR Market to 2025 – Faro Technologies, Quantum Spatial, Velodyne LiDAR (emailwire.com)
- FARO Technologies, Inc. (FARO) CEO Simon Raab Sells 5,856 Shares (americanbankingnews.com)
- Simon Raab Sells 15,000 Shares of FARO Technologies, Inc. (FARO) Stock (americanbankingnews.com)
- Latest FARO Prizm Laser Line Probes Come with Ability to Scan 3D Color (news.thomasnet.com)
- Faro Introduces Faro PrizmTM for Metrology Applications (investingnews.com)
Shares of NASDAQ:FARO opened at $66.35 on Monday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 228.79 and a beta of 1.54. FARO Technologies has a twelve month low of $32.25 and a twelve month high of $70.20.
FARO Technologies (NASDAQ:FARO) last issued its earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $98.24 million during the quarter, compared to analyst estimates of $96.08 million. FARO Technologies had a negative net margin of 2.00% and a positive return on equity of 3.23%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) earnings per share. sell-side analysts expect that FARO Technologies will post 0.83 EPS for the current fiscal year.
A number of analysts recently issued reports on FARO shares. Zacks Investment Research downgraded shares of FARO Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 25th. ValuEngine downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 27th. BidaskClub downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Finally, Craig Hallum raised their price objective on shares of FARO Technologies from $64.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. FARO Technologies has an average rating of “Buy” and an average price target of $65.60.
In other news, SVP Jody Storm Gale sold 22,318 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $65.14, for a total value of $1,453,794.52. Following the completion of the transaction, the senior vice president now directly owns 15,089 shares in the company, valued at $982,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Donofrio sold 1,718 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $54.91, for a total transaction of $94,335.38. Following the completion of the transaction, the director now owns 24,608 shares of the company’s stock, valued at $1,351,225.28. The disclosure for this sale can be found here. Insiders have sold 84,373 shares of company stock valued at $5,585,908 in the last quarter. Company insiders own 3.10% of the company’s stock.
About FARO Technologies
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, 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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