FARO Technologies (NASDAQ:FARO) Raised to Buy at StockNews.com

FARO Technologies (NASDAQ:FARO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price target on shares of FARO Technologies in a research report on Friday.

FARO Technologies Trading Down 1.0 %

NASDAQ:FARO traded down $0.19 during trading hours on Friday, hitting $18.16. 164,266 shares of the company were exchanged, compared to its average volume of 209,343. The company has a current ratio of 2.31, a quick ratio of 2.00 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $344.48 million, a price-to-earnings ratio of -8.07 and a beta of 1.38. The company has a fifty day simple moving average of $20.36 and a 200 day simple moving average of $19.86. FARO Technologies has a one year low of $10.30 and a one year high of $24.80.

FARO Technologies (NASDAQ:FARO) last issued its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.11). FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.02%. The firm had revenue of $84.24 million during the quarter. During the same period in the previous year, the company posted ($1.12) EPS.

Insider Activity at FARO Technologies

In other FARO Technologies news, VP Jeffrey D. Sexton sold 1,500 shares of FARO Technologies stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $20.06, for a total transaction of $30,090.00. Following the transaction, the vice president now owns 27,706 shares of the company’s stock, valued at approximately $555,782.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in FARO Technologies by 16.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company’s stock valued at $145,000 after buying an additional 900 shares during the period. Barclays PLC increased its stake in shares of FARO Technologies by 25.8% during the 3rd quarter. Barclays PLC now owns 9,554 shares of the scientific and technical instruments company’s stock worth $146,000 after purchasing an additional 1,957 shares during the last quarter. Innovis Asset Management LLC bought a new stake in shares of FARO Technologies in the 3rd quarter worth approximately $171,000. Aigen Investment Management LP purchased a new position in FARO Technologies in the fourth quarter valued at approximately $201,000. Finally, Bailard Inc. bought a new position in FARO Technologies during the fourth quarter valued at $256,000. Institutional investors own 97.19% of the company’s stock.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.