FARO Technologies (NASDAQ:FARO) Earns Buy Rating from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of FARO Technologies (NASDAQ:FARO - Get Free Report) in a research note issued to investors on Friday. The firm set a "buy" rating on the scientific and technical instruments company's stock.

Several other research analysts have also issued reports on FARO. Craig Hallum lowered FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC downgraded shares of FARO Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

FARO Technologies Stock Performance

Shares of NASDAQ FARO opened at $42.24 on Friday. The business's 50-day moving average price is $29.71 and its two-hundred day moving average price is $28.16. FARO Technologies has a one year low of $13.52 and a one year high of $42.64. The company has a market capitalization of $812.11 million, a P/E ratio of -120.68 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83.

FARO Technologies (NASDAQ:FARO - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $93.54 million during the quarter, compared to the consensus estimate of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same period in the prior year, the firm earned $0.36 EPS.

Insider Buying and Selling at FARO Technologies

In related news, CEO Peter James Lau sold 4,617 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the transaction, the chief executive officer now directly owns 160,076 shares in the company, valued at approximately $4,690,226.80. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the transaction, the chief financial officer now directly owns 39,430 shares of the company's stock, valued at $1,155,299. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On FARO Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of FARO Technologies in the 4th quarter valued at approximately $25,000. National Bank of Canada FI bought a new stake in FARO Technologies in the 4th quarter valued at about $55,000. Lazard Asset Management LLC acquired a new stake in FARO Technologies during the fourth quarter worth approximately $78,000. Covestor Ltd acquired a new stake in FARO Technologies during the fourth quarter worth about $111,000. Finally, Aquatic Capital Management LLC acquired a new position in FARO Technologies during the fourth quarter valued at approximately $155,000. 97.19% of the stock is owned by institutional investors.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.

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