FARO Technologies (FARO) Reaches New 52-Week High and Low at $64.15

FARO Technologies, Inc. (NASDAQ:FARO) shares hit a new 52-week high and low during mid-day trading on Monday . The company traded as low as $64.15 and last traded at $64.00, with a volume of 143688 shares. The stock had previously closed at $60.80.

FARO has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. Noble Financial reissued a “buy” rating on shares of FARO Technologies in a report on Friday, February 23rd. Zacks Investment Research raised shares of FARO Technologies from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a report on Monday, February 26th. Canaccord Genuity reissued a “buy” rating and set a $66.00 price objective on shares of FARO Technologies in a report on Thursday, February 22nd. Finally, Craig Hallum reissued a “buy” rating and set a $68.00 price objective (up previously from $60.00) on shares of FARO Technologies in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.67.

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The firm has a market capitalization of $1,030.72, a P/E ratio of 220.69 and a beta of 1.43.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.14. The firm had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.31 million. FARO Technologies had a negative net margin of 4.02% and a positive return on equity of 1.39%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. research analysts expect that FARO Technologies, Inc. will post 1.03 EPS for the current year.

In other FARO Technologies news, SVP Jody Storm Gale sold 10,666 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $59.77, for a total value of $637,506.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Simon Raab sold 11,700 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $59.93, for a total transaction of $701,181.00. Following the completion of the sale, the insider now directly owns 38,478 shares in the company, valued at approximately $2,305,986.54. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of FARO Technologies in the fourth quarter valued at about $2,616,000. HighPoint Advisor Group LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at about $831,000. Pier Capital LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at about $5,117,000. MetLife Investment Advisors LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at about $402,000. Finally, Castleark Management LLC purchased a new stake in shares of FARO Technologies in the fourth quarter valued at about $6,758,000. 92.58% of the stock is currently owned by institutional investors.

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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 operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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