BidaskClub Upgrades FARO Technologies (NASDAQ:FARO) to “Sell”

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BidaskClub upgraded shares of FARO Technologies (NASDAQ:FARO) from a strong sell rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

A number of other research firms also recently weighed in on FARO. ValuEngine raised FARO Technologies from a buy rating to a strong-buy rating in a research note on Friday, November 8th. Zacks Investment Research raised FARO Technologies from a sell rating to a hold rating in a research note on Thursday, November 14th. Gabelli downgraded FARO Technologies from a buy rating to a hold rating and set a $50.00 price target on the stock. in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a hold rating on shares of FARO Technologies in a research note on Wednesday, October 16th. Finally, G.Research downgraded FARO Technologies from a buy rating to a hold rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $52.00.

Shares of FARO Technologies stock opened at $48.72 on Thursday. FARO Technologies has a one year low of $37.58 and a one year high of $57.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.32 and a quick ratio of 2.56. The stock’s 50-day moving average is $48.39 and its 200 day moving average is $49.19. The firm has a market cap of $884.65 million, a price-to-earnings ratio of 105.91 and a beta of 1.71.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). FARO Technologies had a positive return on equity of 2.98% and a negative net margin of 1.71%. The company had revenue of $90.52 million for the quarter, compared to analyst estimates of $98.57 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of FARO. Arizona State Retirement System raised its stake in shares of FARO Technologies by 1.0% in the second quarter. Arizona State Retirement System now owns 26,881 shares of the scientific and technical instruments company’s stock worth $1,413,000 after purchasing an additional 266 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of FARO Technologies by 7.2% during the second quarter. Fisher Asset Management LLC now owns 59,901 shares of the scientific and technical instruments company’s stock valued at $3,150,000 after acquiring an additional 4,040 shares during the last quarter. Aperio Group LLC increased its position in shares of FARO Technologies by 3.1% during the second quarter. Aperio Group LLC now owns 7,250 shares of the scientific and technical instruments company’s stock valued at $381,000 after acquiring an additional 216 shares during the last quarter. Swiss National Bank increased its position in shares of FARO Technologies by 2.2% during the second quarter. Swiss National Bank now owns 32,100 shares of the scientific and technical instruments company’s stock valued at $1,688,000 after acquiring an additional 700 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in shares of FARO Technologies by 4.2% during the second quarter. Teton Advisors Inc. now owns 12,300 shares of the scientific and technical instruments company’s stock valued at $647,000 after acquiring an additional 500 shares during the last quarter. 97.59% of the stock is currently owned by institutional investors and hedge funds.

About FARO Technologies

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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