FARO Technologies (NASDAQ:FARO) Raised to “Strong-Buy” at StockNews.com

FARO Technologies (NASDAQ:FARO) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Other research analysts also recently issued reports about the company. Needham & Company LLC lifted their price target on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Craig Hallum boosted their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

FARO Technologies Stock Down 1.6 %

NASDAQ:FARO opened at $29.28 on Friday. 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 firm has a market cap of $555.79 million, a PE ratio of -83.65 and a beta of 1.40. The company has a 50-day moving average of $29.20 and a 200 day moving average of $23.93. FARO Technologies has a 1-year low of $13.52 and a 1-year high of $33.13.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The firm had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same quarter in the prior year, the company earned $0.36 EPS.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the sale, the director now owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. The trade was a 3.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of FARO Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in FARO Technologies during the fourth quarter valued at approximately $25,000. National Bank of Canada FI acquired a new stake in shares of FARO Technologies during the 4th quarter worth approximately $55,000. Lazard Asset Management LLC purchased a new position in shares of FARO Technologies during the 4th quarter valued at approximately $78,000. Covestor Ltd acquired a new position in shares of FARO Technologies in the 4th quarter valued at $111,000. Finally, Aquatic Capital Management LLC purchased a new stake in FARO Technologies during the fourth quarter worth $155,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

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.