FARO Technologies (NASDAQ:FARO) Upgraded to “Strong-Buy” at StockNews.com

FARO Technologies (NASDAQ:FARO) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued reports about the stock. Craig Hallum raised their price target on shares of FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

FARO Technologies Price Performance

FARO traded down $0.35 on Tuesday, hitting $27.63. 267,485 shares of the stock were exchanged, compared to its average volume of 173,589. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 2.01. FARO Technologies has a 12 month low of $13.52 and a 12 month high of $28.04. The firm has a market capitalization of $522.76 million, a price-to-earnings ratio of -78.94 and a beta of 1.26. The business has a 50-day moving average of $18.67 and a two-hundred day moving average of $17.75.

Insider Transactions at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the transaction, the chief executive officer now owns 133,975 shares in the company, valued at $2,233,363.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FARO. Royce & Associates LP raised its position in shares of FARO Technologies by 20.0% during the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock worth $26,969,000 after acquiring an additional 234,650 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in FARO Technologies by 105.1% during the 1st quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock worth $9,413,000 after purchasing an additional 224,273 shares during the last quarter. Swedbank AB acquired a new position in shares of FARO Technologies in the 1st quarter worth approximately $3,226,000. Acadian Asset Management LLC boosted its stake in shares of FARO Technologies by 136.2% in the 1st quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock valued at $3,653,000 after purchasing an additional 97,969 shares during the last quarter. Finally, Divisar Capital Management LLC increased its position in shares of FARO Technologies by 5.1% during the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock worth $29,420,000 after buying an additional 90,000 shares during the period. 97.19% of the stock is owned by institutional investors and hedge funds.

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.