Stifel Nicolaus set a $33.00 price objective on FARO Technologies, Inc. (NASDAQ:FARO) in a research note issued to investors on Friday. The firm currently has a hold rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also issued reports on FARO. Craig Hallum initiated coverage on shares of FARO Technologies in a report on Tuesday, June 27th. They set a buy rating and a $45.00 price objective for the company. Noble Financial reaffirmed a buy rating on shares of FARO Technologies in a report on Thursday, August 3rd. Gabelli lowered shares of FARO Technologies from a buy rating to a hold rating and set a $38.00 price objective for the company. in a report on Thursday, August 3rd. Canaccord Genuity increased their price objective on shares of FARO Technologies from $38.00 to $42.00 and gave the company a buy rating in a report on Thursday, August 3rd. Finally, ValuEngine raised shares of FARO Technologies from a sell rating to a hold rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. FARO Technologies presently has an average rating of Hold and a consensus price target of $39.40.

Shares of FARO Technologies (NASDAQ FARO) remained flat at $38.30 during midday trading on Friday. 56,654 shares of the company were exchanged. The stock’s market cap is $639.92 million. FARO Technologies has a 52 week low of $29.00 and a 52 week high of $40.60. The firm has a 50 day moving average price of $35.71 and a 200-day moving average price of $35.87.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.34). FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The company had revenue of $82.68 million for the quarter, compared to analysts’ expectations of $87.65 million. During the same period last year, the business earned $0.20 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that FARO Technologies will post ($0.13) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of FARO Technologies during the 1st quarter valued at approximately $116,000. State of Alaska Department of Revenue boosted its position in shares of FARO Technologies by 79.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock valued at $124,000 after acquiring an additional 1,454 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of FARO Technologies by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 3,901 shares of the scientific and technical instruments company’s stock valued at $139,000 after acquiring an additional 257 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of FARO Technologies by 3.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock valued at $149,000 after acquiring an additional 130 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of FARO Technologies during the 1st quarter valued at approximately $207,000. Hedge funds and other institutional investors own 94.64% of the company’s stock.

About FARO Technologies

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.

Analyst Recommendations for FARO Technologies (NASDAQ:FARO)

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