Shares of FARO Technologies, Inc. (NASDAQ:FARO) have earned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $64.75.

FARO has been the subject of a number of research reports. ValuEngine raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. BidaskClub raised shares of FARO Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research cut shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, July 30th. Finally, Craig Hallum boosted their target price on shares of FARO Technologies from $64.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 27th.

Shares of FARO stock traded down $0.30 on Friday, reaching $64.30. 401 shares of the company were exchanged, compared to its average volume of 64,944. The stock has a market capitalization of $1.11 billion, a P/E ratio of 222.93 and a beta of 1.59. FARO Technologies has a 1 year low of $36.80 and a 1 year high of $70.20.

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

In related news, SVP Jody Storm Gale sold 22,318 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $65.14, for a total transaction of $1,453,794.52. Following the transaction, the senior vice president now directly owns 15,089 shares in the company, valued at $982,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Simon Raab sold 2,811 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $65.26, for a total transaction of $183,445.86. Following the transaction, the insider now owns 32,758 shares in the company, valued at $2,137,787.08. The disclosure for this sale can be found here. Insiders have sold 121,241 shares of company stock worth $8,100,740 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of FARO. Wells Fargo & Company MN boosted its holdings in FARO Technologies by 18.7% in the 1st quarter. Wells Fargo & Company MN now owns 13,026 shares of the scientific and technical instruments company’s stock valued at $761,000 after purchasing an additional 2,049 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in FARO Technologies by 1.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 83,630 shares of the scientific and technical instruments company’s stock valued at $4,884,000 after purchasing an additional 1,586 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in FARO Technologies by 19.4% in the 1st quarter. Baillie Gifford & Co. now owns 302,133 shares of the scientific and technical instruments company’s stock valued at $17,644,000 after purchasing an additional 49,113 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of FARO Technologies by 704.1% in the 1st quarter. Russell Investments Group Ltd. now owns 5,862 shares of the scientific and technical instruments company’s stock valued at $342,000 after acquiring an additional 5,133 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of FARO Technologies in the 1st quarter valued at approximately $216,000. Institutional investors own 94.63% 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 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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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