FARO Technologies (NASDAQ:FARO) Price Target Raised to $33.00

FARO Technologies (NASDAQ:FARO) had its price target boosted by Craig Hallum from $30.00 to $33.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

FARO has been the subject of a number of other research reports. Needham & Company LLC lifted their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

FARO Technologies Stock Down 3.0 %

Shares of NASDAQ:FARO opened at $27.35 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The stock has a market cap of $517.46 million, a price-to-earnings ratio of -78.14 and a beta of 1.38. The company has a 50 day moving average of $22.67 and a 200-day moving average of $18.99. FARO Technologies has a one year low of $13.52 and a one year high of $29.30.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FARO. Divisar Capital Management LLC boosted its position in shares of FARO Technologies by 5.1% during the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock worth $29,420,000 after purchasing an additional 90,000 shares in the last quarter. Royce & Associates LP raised its stake in FARO Technologies by 20.0% during the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock worth $26,969,000 after buying an additional 234,650 shares during the period. Needham Investment Management LLC lifted its holdings in FARO Technologies by 20.0% during the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock worth $19,700,000 after acquiring an additional 171,300 shares in the last quarter. Harvey Partners LLC grew its stake in FARO Technologies by 17.8% in the third quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock valued at $19,255,000 after acquiring an additional 152,000 shares during the period. Finally, Polar Asset Management Partners Inc. increased its holdings in shares of FARO Technologies by 0.4% in the third quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock worth $12,954,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors and hedge funds 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.