Mason Street Advisors LLC acquired a new position in shares of Faro Technologies Inc. (NASDAQ:FARO) during the second quarter, Holdings Channel reports. The fund acquired 3,255 shares of the company’s stock, valued at approximately $110,000.
A number of other institutional investors have also bought and sold shares of the stock. Emerald Acquisition Ltd. acquired a new position in Faro Technologies during the second quarter worth about $119,000. ClariVest Asset Management LLC acquired a new position in Faro Technologies during the second quarter worth about $212,000. Capital Fund Management S.A. acquired a new position in Faro Technologies during the second quarter worth about $227,000. Strs Ohio boosted its position in Faro Technologies by 9.4% in the second quarter. Strs Ohio now owns 121,300 shares of the company’s stock worth $4,103,000 after buying an additional 10,400 shares during the last quarter. Finally, Smith Asset Management Group LP acquired a new position in Faro Technologies during the second quarter worth about $2,962,000. Institutional investors own 92.43% of the company’s stock.
Shares of Faro Technologies Inc. (NASDAQ:FARO) opened at 34.55 on Tuesday. The company has a market capitalization of $576.09 million, a price-to-earnings ratio of 40.41 and a beta of 1.71. The firm’s 50-day moving average price is $34.72 and its 200-day moving average price is $33.65. Faro Technologies Inc. has a 12 month low of $20.72 and a 12 month high of $38.01.
Faro Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.08. Faro Technologies had a net margin of 4.55% and a return on equity of 4.86%. The firm had revenue of $78.50 million for the quarter, compared to analyst estimates of $84.38 million. During the same period in the previous year, the company earned $0.32 EPS. Faro Technologies’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts expect that Faro Technologies Inc. will post $1.05 EPS for the current year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Faro Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 4th. Needham & Company LLC restated a “buy” rating and set a $39.00 price objective on shares of Faro Technologies in a report on Friday, July 15th. Finally, Canaccord Genuity restated a “buy” rating and set a $38.00 price objective on shares of Faro Technologies in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $36.17.
About Faro Technologies
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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