Craig Hallum Issues Positive Forecast for FARO Technologies (NASDAQ:FARO) Stock Price

FARO Technologies (NASDAQ:FARO) had its target price boosted by Craig Hallum from $25.00 to $30.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Separately, Needham & Company LLC raised their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday.

FARO Technologies Trading Up 4.6 %

Shares of FARO opened at $26.88 on Thursday. The stock has a market capitalization of $524.16 million, a PE ratio of -76.80 and a beta of 1.26. The company’s fifty day moving average is $18.26 and its 200 day moving average is $17.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. FARO Technologies has a fifty-two week low of $13.52 and a fifty-two week high of $26.89.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.47%. The firm had revenue of $82.09 million for the quarter.

Insider Buying and Selling at FARO Technologies

In other news, CEO Peter James Lau sold 5,435 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total transaction of $90,601.45. Following the transaction, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FARO Technologies

Several hedge funds have recently modified their holdings of the business. Quarry LP increased its holdings in shares of FARO Technologies by 912.2% in the 2nd quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 1,651 shares during the period. CWM LLC lifted its stake in shares of FARO Technologies by 343.6% during the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 1,828 shares during the period. SG Americas Securities LLC purchased a new stake in FARO Technologies in the third quarter valued at approximately $141,000. American Century Companies Inc. grew its holdings in FARO Technologies by 16.7% during the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock worth $334,000 after acquiring an additional 2,993 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in FARO Technologies by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock worth $642,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

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.