Gabelli Downgrades FARO Technologies (FARO) to Hold

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FARO Technologies (NASDAQ:FARO) was downgraded by equities research analysts at Gabelli from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They presently have a $43.77 price objective on the scientific and technical instruments company’s stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of FARO Technologies in a report on Friday, November 2nd. Craig Hallum set a $82.00 price objective on shares of FARO Technologies and gave the stock a “buy” rating in a report on Friday, November 2nd. Berenberg Bank started coverage on shares of FARO Technologies in a report on Wednesday, November 14th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Wednesday. Finally, ValuEngine upgraded shares of FARO Technologies from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.46.

FARO Technologies stock opened at $43.77 on Thursday. The firm has a market cap of $826.76 million, a price-to-earnings ratio of 95.15 and a beta of 1.54. FARO Technologies has a fifty-two week low of $37.58 and a fifty-two week high of $70.20.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Tuesday, February 19th. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.09). The firm had revenue of $112.84 million for the quarter, compared to analyst estimates of $118.59 million. FARO Technologies had a return on equity of 3.23% and a net margin of 1.22%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. Equities analysts expect that FARO Technologies will post 1.38 earnings per share for the current year.

Several large investors have recently bought and sold shares of FARO. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of FARO Technologies by 61.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,323 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 505 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in FARO Technologies in the fourth quarter valued at about $98,000. AdvisorNet Financial Inc increased its stake in FARO Technologies by 11.9% in the fourth quarter. AdvisorNet Financial Inc now owns 2,585 shares of the scientific and technical instruments company’s stock valued at $105,000 after acquiring an additional 275 shares during the period. Flinton Capital Management LLC increased its stake in FARO Technologies by 12.9% in the fourth quarter. Flinton Capital Management LLC now owns 2,940 shares of the scientific and technical instruments company’s stock valued at $119,000 after acquiring an additional 336 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in FARO Technologies in the fourth quarter valued at about $128,000. Institutional investors own 94.06% of the company’s stock.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, 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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Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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