FARO Technologies (NASDAQ:FARO) Downgraded by BidaskClub

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BidaskClub downgraded shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a strong sell rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other research analysts have also commented on FARO. Zacks Investment Research upgraded shares of FARO Technologies from a sell rating to a hold rating in a research report on Thursday, November 14th. G.Research lowered FARO Technologies from a buy rating to a hold rating in a research note on Friday, November 1st. ValuEngine upgraded FARO Technologies from a buy rating to a strong-buy rating in a research report on Friday, November 8th. Needham & Company LLC restated a hold rating on shares of FARO Technologies in a research note on Wednesday, October 16th. Finally, Gabelli cut FARO Technologies from a buy rating to a hold rating and set a $50.00 price target on the stock. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company’s stock. FARO Technologies presently has a consensus rating of Hold and an average price target of $52.00.

Shares of FARO Technologies stock traded up $0.49 on Wednesday, reaching $49.20. The stock had a trading volume of 798 shares, compared to its average volume of 98,139. The business’s 50 day moving average is $48.48 and its two-hundred day moving average is $49.12. The company has a current ratio of 3.32, a quick ratio of 2.56 and a debt-to-equity ratio of 0.04. FARO Technologies has a 1 year low of $37.58 and a 1 year high of $57.58. The company has a market cap of $847.93 million, a P/E ratio of 107.29 and a beta of 1.71.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $90.52 million during the quarter, compared to analysts’ expectations of $98.57 million. FARO Technologies had a negative net margin of 1.71% and a positive return on equity of 2.98%. FARO Technologies’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, equities analysts anticipate that FARO Technologies will post 0.1 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in FARO. BlackRock Inc. increased its holdings in shares of FARO Technologies by 13.4% in the 2nd quarter. BlackRock Inc. now owns 2,893,252 shares of the scientific and technical instruments company’s stock worth $152,128,000 after buying an additional 340,879 shares during the last quarter. Vanguard Group Inc. grew its position in FARO Technologies by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,825,803 shares of the scientific and technical instruments company’s stock worth $96,001,000 after acquiring an additional 11,869 shares in the last quarter. Paradice Investment Management LLC increased its stake in FARO Technologies by 1.2% in the third quarter. Paradice Investment Management LLC now owns 1,002,339 shares of the scientific and technical instruments company’s stock valued at $48,463,000 after acquiring an additional 11,601 shares during the last quarter. State Street Corp increased its stake in FARO Technologies by 2.2% in the third quarter. State Street Corp now owns 505,726 shares of the scientific and technical instruments company’s stock valued at $24,452,000 after acquiring an additional 11,070 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in FARO Technologies by 1.4% in the second quarter. Baillie Gifford & Co. now owns 394,639 shares of the scientific and technical instruments company’s stock valued at $20,749,000 after acquiring an additional 5,353 shares during the last quarter. Institutional investors and hedge funds own 97.59% of the company’s stock.

FARO Technologies Company Profile

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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