FARO Technologies (NASDAQ:FARO) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, Stock Ratings News reports. The firm currently has a $51.50 target price on the stock. Zacks‘ price objective would indicate a potential upside of 4.15% from the stock’s previous close.
Separately, analysts at Needham & Company downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.50.
FARO Technologies (NASDAQ:FARO) traded up 3.72% during mid-day trading on Monday, hitting $51.29. 160,100 shares of the company’s stock traded hands. FARO Technologies has a 52-week low of $31.10 and a 52-week high of $52.21. The stock’s 50-day moving average is $41.51 and its 200-day moving average is $37.9. The company has a market cap of $877.8 million and a P/E ratio of 40.24.
FARO Technologies (NASDAQ:FARO) last released its earnings data on Thursday, October 31st. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.08. The company had revenue of $68.20 million for the quarter, compared to the consensus estimate of $66.27 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Analysts expect that FARO Technologies will post $1.21 EPS for the current fiscal year.
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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