FARO Technologies (NASDAQ:FARO) had its target price increased by Needham & Company LLC to $65.00 in a report published on Friday morning. Needham & Company LLC currently has a buy rating on the scientific and technical instruments company’s stock.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of FARO Technologies from a strong-buy rating to a hold rating in a report on Tuesday, February 6th. Craig Hallum reaffirmed a buy rating and set a $68.00 price objective (up previously from $60.00) on shares of FARO Technologies in a report on Friday. Canaccord Genuity reaffirmed a buy rating and set a $66.00 price objective on shares of FARO Technologies in a report on Thursday. Stifel Nicolaus raised their price objective on shares of FARO Technologies from $33.00 to $46.00 and gave the stock a hold rating in a report on Monday, October 30th. Finally, BidaskClub lowered shares of FARO Technologies from a hold rating to a sell rating in a report on Saturday, December 16th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $56.17.
FARO Technologies (NASDAQ FARO) opened at $60.00 on Friday. The company has a market cap of $1,007.86, a PE ratio of 206.90 and a beta of 1.62. FARO Technologies has a one year low of $31.90 and a one year high of $62.15.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of FARO Technologies by 59.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock worth $239,000 after buying an additional 2,330 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of FARO Technologies during the fourth quarter worth approximately $272,000. Voya Investment Management LLC increased its holdings in shares of FARO Technologies by 13.5% in the second quarter. Voya Investment Management LLC now owns 8,197 shares of the scientific and technical instruments company’s stock valued at $310,000 after purchasing an additional 974 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of FARO Technologies by 50.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock valued at $343,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Advisory Research Inc. acquired a new stake in shares of FARO Technologies in the fourth quarter valued at approximately $354,000. 98.57% of the stock is owned by institutional investors.
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About FARO Technologies
FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.
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