FARO Technologies (NASDAQ:FARO) Upgraded at StockNews.com

StockNews.com upgraded shares of FARO Technologies (NASDAQ:FARO) from a buy rating to a strong-buy rating in a report released on Saturday.

FARO has been the topic of several other reports. Needham & Company LLC lifted their price target on shares of FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Craig Hallum lifted their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

FARO Technologies Trading Down 1.6 %

Shares of NASDAQ:FARO opened at $29.28 on Friday. FARO Technologies has a 12 month low of $13.52 and a 12 month high of $33.13. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $29.28 and its 200 day simple moving average is $24.08. The firm has a market cap of $555.79 million, a price-to-earnings ratio of -83.65 and a beta of 1.55.

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

Insider Buying and Selling at FARO Technologies

In other news, Director Yuval Wasserman sold 5,658 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now directly owns 153,512 shares in the company, valued at $4,812,601.20. The trade was a 3.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of FARO Technologies by 0.8% during the 4th quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock worth $1,371,000 after purchasing an additional 439 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of FARO Technologies during the 4th quarter worth about $78,000. Graham Capital Management L.P. acquired a new position in shares of FARO Technologies during the 4th quarter worth about $386,000. Deutsche Bank AG increased its stake in shares of FARO Technologies by 84.9% during the 4th quarter. Deutsche Bank AG now owns 17,430 shares of the scientific and technical instruments company’s stock worth $442,000 after purchasing an additional 8,001 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of FARO Technologies during the 4th quarter worth about $8,990,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

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.