FARO Technologies, Inc. (NASDAQ:FARO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

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 equities research analysts also recently issued research reports about the company. Gabelli downgraded FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a report on Thursday, August 3rd. Canaccord Genuity boosted their price target on FARO Technologies from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. ValuEngine raised FARO Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus boosted their price target on FARO Technologies from $33.00 to $46.00 and gave the company a “hold” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.33.

Shares of FARO Technologies (NASDAQ:FARO) traded up $0.25 during mid-day trading on Monday, hitting $53.00. The stock had a trading volume of 158,700 shares, compared to its average volume of 96,248. FARO Technologies has a 1-year low of $31.90 and a 1-year high of $54.40.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.14. FARO Technologies had a return on equity of 0.03% and a net margin of 0.03%. The business had revenue of $90.25 million for the quarter, compared to analyst estimates of $89.34 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. research analysts forecast that FARO Technologies will post 0.1 EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of FARO Technologies by 5.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,096,494 shares of the scientific and technical instruments company’s stock valued at $41,941,000 after buying an additional 59,528 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of FARO Technologies by 9.2% in the third quarter. Wells Fargo & Company MN now owns 13,692 shares of the scientific and technical instruments company’s stock valued at $524,000 after buying an additional 1,156 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of FARO Technologies by 59.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock valued at $239,000 after buying an additional 2,330 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of FARO Technologies by 50.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock valued at $343,000 after buying an additional 2,999 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC increased its position in shares of FARO Technologies by 159.6% in the third quarter. Global X MANAGEMENT CO LLC now owns 80,968 shares of the scientific and technical instruments company’s stock valued at $3,097,000 after buying an additional 49,783 shares in the last quarter. Institutional investors and hedge funds own 93.47% of the company’s stock.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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