According to Zacks, “FARO Technologies, Inc. is the world’s most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes. FARO Technologies capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel, and also Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication. “
Other analysts also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of FARO Technologies in a research note on Wednesday, October 16th. G.Research downgraded FARO Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. BidaskClub downgraded FARO Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 4th. Gabelli downgraded FARO Technologies from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Thursday, October 31st. Finally, ValuEngine downgraded FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $52.00.
Shares of FARO stock traded down $0.20 during midday trading on Tuesday, reaching $51.03. 71,116 shares of the stock were exchanged, compared to its average volume of 97,929. FARO Technologies has a 1 year low of $37.58 and a 1 year high of $57.58. The company’s 50 day moving average is $48.98 and its two-hundred day moving average is $49.19. The company has a current ratio of 3.32, a quick ratio of 2.56 and a debt-to-equity ratio of 0.04. The firm has a market cap of $891.40 million, a PE ratio of 110.93 and a beta of 1.71.
FARO Technologies (NASDAQ:FARO) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). FARO Technologies had a positive return on equity of 2.98% and a negative net margin of 1.71%. The firm had revenue of $90.52 million for the quarter, compared to the consensus estimate of $98.57 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, equities analysts expect that FARO Technologies will post 0.1 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in shares of FARO Technologies by 395.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 818 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 653 shares during the last quarter. US Bancorp DE grew its stake in shares of FARO Technologies by 82.7% in the 2nd quarter. US Bancorp DE now owns 1,253 shares of the scientific and technical instruments company’s stock worth $66,000 after buying an additional 567 shares during the last quarter. Bank of Montreal Can grew its stake in shares of FARO Technologies by 29.1% in the 2nd quarter. Bank of Montreal Can now owns 4,765 shares of the scientific and technical instruments company’s stock worth $251,000 after buying an additional 1,075 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of FARO Technologies in the 2nd quarter worth approximately $298,000. Finally, State of Tennessee Treasury Department boosted its stake in FARO Technologies by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 7,352 shares of the scientific and technical instruments company’s stock valued at $355,000 after purchasing an additional 578 shares during the last quarter. Institutional investors own 97.59% 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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