FARO Technologies (NASDAQ:FARO) Sets New 1-Year High - Time to Buy?

FARO Technologies, Inc. (NASDAQ:FARO - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $43.41 and last traded at $42.52, with a volume of 5083 shares traded. The stock had previously closed at $42.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of FARO Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 16th. Needham & Company LLC cut shares of FARO Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th.

FARO Technologies Stock Down 0.4%

The stock has a market capitalization of $809.99 million, a PE ratio of -120.37 and a beta of 1.49. The firm has a 50 day moving average of $28.69 and a two-hundred day moving average of $27.63. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. The company had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same period last year, the company earned $0.36 earnings per share.

Insider Activity at FARO Technologies

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FARO. Barclays PLC grew its holdings in FARO Technologies by 41.4% during the 3rd quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company's stock valued at $1,171,000 after buying an additional 17,892 shares in the last quarter. SG Americas Securities LLC boosted its holdings in FARO Technologies by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company's stock worth $212,000 after buying an additional 966 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of FARO Technologies during the fourth quarter valued at approximately $3,144,000. Tectonic Advisors LLC purchased a new position in FARO Technologies in the fourth quarter worth approximately $536,000. Finally, Rhumbline Advisers boosted its position in FARO Technologies by 4.5% in the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company's stock valued at $793,000 after buying an additional 1,333 shares during the period. 97.19% of the stock is owned by institutional investors.

FARO Technologies Company Profile

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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