FARO Technologies, Inc. (NASDAQ:FARO) has been assigned a $33.00 price objective by research analysts at Stifel Nicolaus in a note issued to investors on Friday. The firm presently has a “hold” rating on the scientific and technical instruments company’s stock. Stifel Nicolaus’ price objective points to a potential downside of 13.84% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of FARO Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Gabelli cut shares of FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub cut shares of FARO Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Noble Financial reaffirmed a “buy” rating on shares of FARO Technologies in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.40.

FARO Technologies (NASDAQ:FARO) opened at 38.30 on Friday. FARO Technologies has a 1-year low of $29.00 and a 1-year high of $40.60. The stock’s market cap is $639.92 million. The firm’s 50 day moving average price is $35.71 and its 200-day moving average price is $35.87.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.34). FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The business had revenue of $82.68 million during the quarter, compared to analysts’ expectations of $87.65 million. During the same period in the previous year, the company posted $0.20 earnings per share. FARO Technologies’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that FARO Technologies will post ($0.13) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in FARO Technologies by 5.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 71,705 shares of the scientific and technical instruments company’s stock worth $2,564,000 after purchasing an additional 3,915 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in FARO Technologies by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 16,283 shares of the scientific and technical instruments company’s stock worth $582,000 after purchasing an additional 2,457 shares in the last quarter. Comerica Bank raised its holdings in FARO Technologies by 3.7% during the first quarter. Comerica Bank now owns 18,419 shares of the scientific and technical instruments company’s stock worth $689,000 after purchasing an additional 664 shares in the last quarter. Royce & Associates LP raised its holdings in FARO Technologies by 1.7% during the second quarter. Royce & Associates LP now owns 701,900 shares of the scientific and technical instruments company’s stock worth $26,532,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in FARO Technologies by 93.7% during the first quarter. Bank of America Corp DE now owns 26,241 shares of the scientific and technical instruments company’s stock worth $938,000 after purchasing an additional 12,696 shares in the last quarter. 94.64% of the stock is owned by hedge funds and other institutional investors.

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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