Comerica Bank increased its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 2.3% in the first quarter, HoldingsChannel reports. The firm owned 17,102 shares of the scientific and technical instruments company’s stock after buying an additional 378 shares during the quarter. Comerica Bank’s holdings in FARO Technologies were worth $960,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FARO. Alps Advisors Inc. raised its position in shares of FARO Technologies by 16.8% in the 1st quarter. Alps Advisors Inc. now owns 11,659 shares of the scientific and technical instruments company’s stock valued at $512,000 after purchasing an additional 1,675 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of FARO Technologies by 9.7% in the 1st quarter. Baillie Gifford & Co. now owns 389,286 shares of the scientific and technical instruments company’s stock valued at $17,093,000 after purchasing an additional 34,301 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of FARO Technologies in the 1st quarter valued at approximately $48,000. SG Americas Securities LLC acquired a new position in shares of FARO Technologies in the 1st quarter valued at approximately $251,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of FARO Technologies by 402.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,988 shares of the scientific and technical instruments company’s stock valued at $175,000 after purchasing an additional 3,194 shares in the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

FARO stock opened at $44.05 on Tuesday. The company has a current ratio of 3.34, a quick ratio of 2.54 and a debt-to-equity ratio of 0.04. The company has a market cap of $763.76 million, a P/E ratio of 65.82 and a beta of 1.72. FARO Technologies, Inc. has a 12-month low of $37.58 and a 12-month high of $70.20.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.13). The firm had revenue of $93.61 million for the quarter, compared to analyst estimates of $101.85 million. FARO Technologies had a net margin of 1.14% and a return on equity of 3.11%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Sell-side analysts expect that FARO Technologies, Inc. will post 0.95 earnings per share for the current year.

A number of equities analysts have issued reports on FARO shares. ValuEngine raised FARO Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. BidaskClub raised FARO Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Gabelli raised FARO Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Finally, Zacks Investment Research lowered FARO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.95.

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FARO Technologies 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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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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