Several other analysts have also commented on FARO. Zacks Investment Research lowered FARO Technologies from a hold rating to a sell rating in a report on Monday, August 12th. ValuEngine raised FARO Technologies from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lowered FARO Technologies from a buy rating to a hold rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $56.95.
Shares of FARO stock opened at $50.12 on Wednesday. The stock’s 50-day simple moving average is $50.09 and its 200-day simple moving average is $48.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.16. The firm has a market capitalization of $869.08 million, a PE ratio of 108.96 and a beta of 1.79. FARO Technologies has a fifty-two week low of $37.58 and a fifty-two week high of $69.00.
FARO Technologies (NASDAQ:FARO) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.27. The firm had revenue of $93.50 million for the quarter, compared to analyst estimates of $96.32 million. FARO Technologies had a positive return on equity of 3.42% and a negative net margin of 0.75%. FARO Technologies’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts forecast that FARO Technologies will post 0.33 earnings per share for the current year.
In related news, Director John Donofrio sold 2,873 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $52.43, for a total transaction of $150,631.39. Following the sale, the director now directly owns 21,075 shares of the company’s stock, valued at $1,104,962.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in FARO Technologies by 13.4% during the second quarter. BlackRock Inc. now owns 2,893,252 shares of the scientific and technical instruments company’s stock worth $152,128,000 after purchasing an additional 340,879 shares in the last quarter. Vanguard Group Inc. boosted its position in FARO Technologies by 0.7% during the second quarter. Vanguard Group Inc. now owns 1,825,803 shares of the scientific and technical instruments company’s stock worth $96,001,000 after purchasing an additional 11,869 shares in the last quarter. Baillie Gifford & Co. boosted its position in FARO Technologies by 1.4% during the second quarter. Baillie Gifford & Co. now owns 394,639 shares of the scientific and technical instruments company’s stock worth $20,749,000 after purchasing an additional 5,353 shares in the last quarter. Norges Bank purchased a new position in FARO Technologies during the fourth quarter worth approximately $14,779,000. Finally, Northern Trust Corp boosted its position in FARO Technologies by 1.7% during the second quarter. Northern Trust Corp now owns 234,690 shares of the scientific and technical instruments company’s stock worth $12,341,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors own 95.58% 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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