FARO Technologies (NASDAQ:FARO) Stock Rating Upgraded by StockNews.com

FARO Technologies (NASDAQ:FARO) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

FARO has been the subject of several other research reports. Craig Hallum increased their price target on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC upped their target price on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, February 25th.

FARO Technologies Trading Down 1.6 %

Shares of FARO opened at $29.28 on Friday. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $33.13. The stock has a market cap of $555.79 million, a PE ratio of -83.65 and a beta of 1.40. The firm’s fifty day moving average is $29.20 and its two-hundred day moving average is $23.93. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same period in the previous year, the business posted $0.36 earnings per share.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total value of $177,378.30. Following the sale, the director now owns 153,512 shares of the company’s stock, valued at $4,812,601.20. The trade was a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FARO. Quarry LP purchased a new stake in shares of FARO Technologies during the fourth quarter worth $25,000. National Bank of Canada FI acquired a new position in FARO Technologies during the 4th quarter worth $55,000. Lazard Asset Management LLC purchased a new stake in FARO Technologies during the 4th quarter worth about $78,000. Covestor Ltd acquired a new stake in FARO Technologies in the 4th quarter valued at about $111,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of FARO Technologies in the 4th quarter valued at about $155,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.