According to Zacks, “FARO Technologies, Inc. is the world’s most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes. FARO Technologies capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel, and also Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication. “
Several other analysts have also issued reports on the stock. BidaskClub lowered shares of FARO Technologies from a hold rating to a sell rating in a research report on Wednesday, August 14th. ValuEngine downgraded shares of FARO Technologies from a buy rating to a hold rating in a report on Wednesday, September 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $56.95.
Shares of FARO Technologies stock traded down $1.23 on Monday, hitting $54.17. The company had a trading volume of 2,345 shares, compared to its average volume of 94,094. The business has a 50-day simple moving average of $50.52 and a 200-day simple moving average of $49.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.16 and a quick ratio of 2.45. The company has a market cap of $896.43 million, a PE ratio of 115.40 and a beta of 1.77. FARO Technologies has a 52 week low of $37.58 and a 52 week high of $67.36.
FARO Technologies (NASDAQ:FARO) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.27. FARO Technologies had a negative net margin of 0.75% and a positive return on equity of 3.42%. The company had revenue of $93.50 million during the quarter, compared to the consensus estimate of $96.32 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts predict that FARO Technologies will post 0.25 earnings per share for the current fiscal year.
In other FARO Technologies news, Director John Donofrio sold 2,873 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $52.43, for a total value of $150,631.39. Following the completion of the transaction, the director now directly owns 21,075 shares of the company’s stock, valued at $1,104,962.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of FARO Technologies by 258.3% in the fourth quarter. Bank of America Corp DE now owns 20,093 shares of the scientific and technical instruments company’s stock valued at $816,000 after buying an additional 14,485 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of FARO Technologies by 402.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,988 shares of the scientific and technical instruments company’s stock valued at $175,000 after acquiring an additional 3,194 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of FARO Technologies in the first quarter valued at about $251,000. Quantamental Technologies LLC acquired a new position in shares of FARO Technologies in the first quarter valued at about $48,000. Finally, Alps Advisors Inc. grew its stake in shares of FARO Technologies by 16.8% in the first quarter. Alps Advisors Inc. now owns 11,659 shares of the scientific and technical instruments company’s stock valued at $512,000 after acquiring an additional 1,675 shares in the last quarter. Institutional investors own 98.34% 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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