FARO Technologies (NASDAQ:FARO – Get Rating) had its target price dropped by equities research analysts at Needham & Company LLC from $72.00 to $50.00 in a research report issued to clients and investors on Thursday, The Fly reports. Needham & Company LLC’s price objective would indicate a potential upside of 15.21% from the stock’s previous close.
A number of other research analysts also recently commented on the stock. Craig Hallum downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $74.00 to $40.00 in a research note on Thursday. StockNews.com initiated coverage on FARO Technologies in a report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird reduced their target price on FARO Technologies from $62.00 to $50.00 in a research note on Thursday. Finally, TheStreet cut FARO Technologies from a “c” rating to a “d+” rating in a research note on Friday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, FARO Technologies presently has a consensus rating of “Hold” and a consensus price target of $46.67.
Shares of NASDAQ FARO opened at $43.40 on Thursday. The firm has a market capitalization of $792.53 million, a P/E ratio of -19.82 and a beta of 1.40. FARO Technologies has a one year low of $42.68 and a one year high of $89.36. The company’s fifty day moving average is $51.26 and its two-hundred day moving average is $61.37.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. lifted its stake in FARO Technologies by 40.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 702 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 201 shares during the last quarter. Royal Bank of Canada lifted its stake in FARO Technologies by 1,246.0% during the second quarter. Royal Bank of Canada now owns 1,346 shares of the scientific and technical instruments company’s stock worth $105,000 after purchasing an additional 1,246 shares during the last quarter. Susquehanna International Group LLP bought a new position in FARO Technologies during the fourth quarter worth $205,000. Handelsbanken Fonder AB lifted its stake in FARO Technologies by 30.8% during the third quarter. Handelsbanken Fonder AB now owns 3,400 shares of the scientific and technical instruments company’s stock worth $224,000 after purchasing an additional 800 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in FARO Technologies during the third quarter worth $226,000. Hedge funds and other institutional investors own 96.66% of the company’s stock.
FARO Technologies Company Profile (Get Rating)
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions in North America, South America, Europe, the Middle East, Africa, and the Asia-Pacific. 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 quickly and accurate position components; and FARO Laser Scanning Portfolio to measure and collect a cloud of data points.
- Get a free copy of the StockNews.com research report on FARO Technologies (FARO)
- Harley-Davidson Skids Into A Buying Opportunity
- Facebook (NASDAQ: FB) Soars And Wall Street Delights
- Automatic Data Processing Is Ready To Scale New Heights
- Carl Icahn Buys More Xerox
- Xerox Holdings Stock is a Value Play
Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.