According to Zacks, “FARO Technologies, Inc. is the world’s most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes. FARO Technologies capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel, and also Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication. “
Several other analysts have also recently weighed in on FARO. ValuEngine raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of FARO Technologies in a report on Wednesday, October 16th. Gabelli cut FARO Technologies from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Thursday, October 31st. BidaskClub raised FARO Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, G.Research cut FARO Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. FARO Technologies presently has a consensus rating of “Hold” and an average price target of $52.00.
FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $90.52 million for the quarter, compared to analysts’ expectations of $98.57 million. FARO Technologies had a positive return on equity of 2.98% and a negative net margin of 1.71%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, research analysts forecast that FARO Technologies will post -0.7 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of FARO Technologies by 4.6% in the 2nd quarter. Invesco Ltd. now owns 72,920 shares of the scientific and technical instruments company’s stock valued at $3,834,000 after acquiring an additional 3,224 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of FARO Technologies by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,825,803 shares of the scientific and technical instruments company’s stock valued at $96,001,000 after acquiring an additional 11,869 shares in the last quarter. Potrero Capital Research LLC purchased a new stake in shares of FARO Technologies in the 2nd quarter valued at about $2,639,000. Nuveen Asset Management LLC purchased a new stake in shares of FARO Technologies in the 2nd quarter valued at about $6,019,000. Finally, Morgan Stanley raised its holdings in shares of FARO Technologies by 1,911.9% in the 2nd quarter. Morgan Stanley now owns 76,432 shares of the scientific and technical instruments company’s stock valued at $4,018,000 after acquiring an additional 72,633 shares in the last quarter. 98.16% of the stock is currently owned by hedge funds and other institutional investors.
FARO Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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