According to Zacks, “FARO Technologies, Inc. and its international subsidiaries are pioneers and market leaders in the computer-aided manufacturing measurement market, which is the final frontier of the computer-aided design and computer-aided manufacturing revolution. FARO’s product line includes portable, 3D measurement equipment, computer-aided design-based inspection software for portable and fixed-base coordinate measurement machines, as well as factory-level statistical process control, and manufacturing quality consulting services. (Company Press Release) “
Other research analysts have also issued research reports about the stock. Needham & Company LLC reduced their price objective on shares of Faro Technologies from $39.00 to $36.00 and set a buy rating for the company in a research note on Thursday, August 4th. Canaccord Genuity reiterated a buy rating and set a $38.00 price objective on shares of Faro Technologies in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Faro Technologies currently has a consensus rating of Buy and an average target price of $36.17.
Faro Technologies (NASDAQ:FARO) opened at 35.69 on Tuesday. Faro Technologies has a 52-week low of $20.72 and a 52-week high of $38.83. The firm has a 50-day moving average of $34.27 and a 200 day moving average of $33.48. The company has a market capitalization of $595.10 million, a P/E ratio of 41.74 and a beta of 1.71.
Faro Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by $0.08. The firm had revenue of $78.50 million for the quarter, compared to the consensus estimate of $84.38 million. Faro Technologies had a return on equity of 4.86% and a net margin of 4.55%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. Equities analysts predict that Faro Technologies will post $1.05 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in FARO. Mason Street Advisors LLC acquired a new stake in Faro Technologies during the second quarter valued at approximately $110,000. Emerald Acquisition Ltd. acquired a new stake in Faro Technologies during the second quarter valued at approximately $119,000. BlackRock Inc. increased its stake in Faro Technologies by 182.9% in the second quarter. BlackRock Inc. now owns 3,983 shares of the company’s stock valued at $134,000 after buying an additional 2,575 shares during the period. BNP Paribas Arbitrage SA increased its stake in Faro Technologies by 105.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,199 shares of the company’s stock valued at $176,000 after buying an additional 2,664 shares during the period. Finally, Barclays PLC increased its stake in Faro Technologies by 672.8% in the second quarter. Barclays PLC now owns 5,750 shares of the company’s stock valued at $195,000 after buying an additional 5,006 shares during the period. 92.55% of the stock is currently owned by institutional investors and hedge funds.
Faro Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Americas, Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.
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