FARO Technologies (NASDAQ:FARO) Cut to “Strong Sell” at BidaskClub

BidaskClub lowered shares of FARO Technologies (NASDAQ:FARO) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

FARO has been the topic of a number of other reports. Needham & Company LLC reaffirmed a hold rating on shares of FARO Technologies in a research report on Wednesday, October 16th. Gabelli lowered FARO Technologies from a buy rating to a hold rating and set a $50.00 price target for the company. in a research report on Thursday, October 31st. G.Research cut FARO Technologies from a buy rating to a hold rating in a research note on Friday, November 1st. ValuEngine upgraded FARO Technologies from a buy rating to a strong-buy rating in a report on Friday, November 8th. Finally, Zacks Investment Research raised shares of FARO Technologies from a sell rating to a hold rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. FARO Technologies presently has a consensus rating of Hold and a consensus price target of $52.00.

FARO Technologies stock opened at $50.90 on Wednesday. The firm has a market cap of $885.86 million, a price-to-earnings ratio of 110.65 and a beta of 1.71. FARO Technologies has a 1 year low of $37.58 and a 1 year high of $57.58. The firm’s 50 day moving average price is $48.61 and its two-hundred day moving average price is $49.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.56 and a current ratio of 3.32.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $90.52 million during the quarter, compared to the consensus estimate of $98.57 million. FARO Technologies had a positive return on equity of 2.98% and a negative net margin of 1.71%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. As a group, equities analysts predict that FARO Technologies will post 0.1 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. State of Tennessee Treasury Department raised its stake in FARO Technologies by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 7,352 shares of the scientific and technical instruments company’s stock valued at $355,000 after purchasing an additional 578 shares during the period. Invesco Ltd. increased 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 purchasing an additional 3,224 shares during the period. California Public Employees Retirement System lifted its position in shares of FARO Technologies by 41.1% in the third quarter. California Public Employees Retirement System now owns 35,732 shares of the scientific and technical instruments company’s stock worth $1,728,000 after purchasing an additional 10,400 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of FARO Technologies by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,825,803 shares of the scientific and technical instruments company’s stock worth $96,001,000 after purchasing an additional 11,869 shares in the last quarter. Finally, Potrero Capital Research LLC purchased a new stake in shares of FARO Technologies in the second quarter worth approximately $2,639,000. 97.59% of the stock is owned by hedge funds and other institutional investors.

About FARO Technologies

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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