FARO Technologies (NASDAQ:FARO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Friday, AnalystRatings.Net reports. They currently have a $35.50 price objective on the stock. Zacks‘ price objective would suggest a potential downside of 4.72% from the stock’s previous close.
Shares of FARO Technologies (NASDAQ:FARO) traded down 0.21% during mid-day trading on Friday, hitting $37.26. FARO Technologies has a 52 week low of $31.10 and a 52 week high of $45.88. The stock’s 50-day moving average is currently $36.38. The company has a market cap of $636.8 million and a P/E ratio of 30.61.
FARO Technologies (NASDAQ:FARO) last announced its earnings results on Tuesday, July 30th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.08. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $70.56 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that FARO Technologies will post $1.31 earnings per share for the current fiscal year.
Separately, analysts at Gabelli initiated coverage on shares of FARO Technologies in a research note to investors on Friday, May 31st. They set a “hold” rating and a $39.00 price target on the stock.
One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $40.10.
FARO Technologies, Inc designs, develops, manufactures, markets and supports portable, software driven, three-dimensional (NASDAQ:FARO) measurement and imaging systems used in a range of manufacturing, industrial, building construction and forensic applications.
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