FARO Technologies (FARO) Price Target Raised to $82.00 at Craig Hallum

FARO Technologies (NASDAQ:FARO) had its target price increased by Craig Hallum from $64.00 to $82.00 in a research report released on Friday, July 27th, The Fly reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Other analysts have also issued reports about the company. BidaskClub raised FARO Technologies from a hold rating to a buy rating in a report on Thursday, May 31st. ValuEngine raised FARO Technologies from a hold rating to a buy rating in a report on Thursday, July 26th. Finally, Zacks Investment Research raised FARO Technologies from a strong sell rating to a hold rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $65.60.

FARO Technologies traded up $0.05, reaching $67.25, during midday trading on Friday, MarketBeat Ratings reports. The company’s stock had a trading volume of 37,755 shares, compared to its average volume of 93,177. FARO Technologies has a 52-week low of $32.25 and a 52-week high of $70.20. The stock has a market cap of $1.14 billion, a PE ratio of 96.00 and a beta of 1.54.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. FARO Technologies had a positive return on equity of 3.23% and a negative net margin of 2.00%. The company had revenue of $98.24 million during the quarter, compared to analysts’ expectations of $96.08 million. During the same period last year, the business posted ($0.22) earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. equities research analysts predict that FARO Technologies will post 0.83 EPS for the current fiscal year.

In related news, insider Katrona Tyrrell sold 3,247 shares of FARO Technologies stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $65.07, for a total transaction of $211,282.29. Following the transaction, the insider now owns 5,527 shares in the company, valued at $359,641.89. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jody Storm Gale sold 22,318 shares of FARO Technologies stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $65.14, for a total value of $1,453,794.52. Following the transaction, the senior vice president now owns 15,089 shares in the company, valued at approximately $982,897.46. The disclosure for this sale can be found here. Insiders sold 31,344 shares of company stock worth $2,032,839 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FARO. Legal & General Group Plc grew its stake in shares of FARO Technologies by 865.1% in the first quarter. Legal & General Group Plc now owns 307,909 shares of the scientific and technical instruments company’s stock valued at $17,970,000 after buying an additional 276,005 shares in the last quarter. Millennium Management LLC acquired a new position in shares of FARO Technologies during the 4th quarter worth about $10,070,000. BlackRock Inc. boosted its position in shares of FARO Technologies by 8.1% during the 2nd quarter. BlackRock Inc. now owns 2,346,813 shares of the scientific and technical instruments company’s stock worth $127,551,000 after acquiring an additional 175,276 shares in the last quarter. Paradice Investment Management LLC boosted its position in shares of FARO Technologies by 29.9% during the 1st quarter. Paradice Investment Management LLC now owns 682,645 shares of the scientific and technical instruments company’s stock worth $39,832,000 after acquiring an additional 157,151 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in shares of FARO Technologies by 64.7% in the 1st quarter. Global X Management Co. LLC now owns 297,568 shares of the scientific and technical instruments company’s stock valued at $17,378,000 after purchasing an additional 116,877 shares during the last quarter. Hedge funds and other institutional investors own 92.72% of the company’s stock.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, 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.

Featured Story: Leveraged Buyout (LBO)

The Fly

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply