FARO Technologies (NASDAQ:FARO) Given New $22.00 Price Target at Needham & Company LLC

FARO Technologies (NASDAQ:FARO) had its price target upped by Needham & Company LLC from $20.00 to $22.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

FARO has been the subject of a number of other research reports. StockNews.com began coverage on FARO Technologies in a report on Thursday, October 5th. They set a hold rating for the company. Craig Hallum raised FARO Technologies from a hold rating to a buy rating and set a $26.00 target price for the company in a report on Thursday, August 3rd.

FARO Technologies Trading Up 13.2 %

Shares of FARO opened at $16.54 on Thursday. The business has a 50-day moving average of $14.62 and a 200 day moving average of $15.65. FARO Technologies has a fifty-two week low of $10.30 and a fifty-two week high of $36.74. The firm has a market cap of $313.43 million, a P/E ratio of -5.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.00 and a current ratio of 2.38.

Institutional Trading of FARO Technologies

Hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors lifted its position in FARO Technologies by 29.7% in the first quarter. Captrust Financial Advisors now owns 1,985 shares of the scientific and technical instruments company’s stock valued at $103,000 after purchasing an additional 455 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in FARO Technologies by 15.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock valued at $208,000 after purchasing an additional 523 shares during the last quarter. Bank of Montreal Can lifted its position in FARO Technologies by 7.4% in the first quarter. Bank of Montreal Can now owns 12,306 shares of the scientific and technical instruments company’s stock valued at $672,000 after purchasing an additional 848 shares during the last quarter. Natixis Advisors L.P. lifted its position in FARO Technologies by 3.8% in the second quarter. Natixis Advisors L.P. now owns 23,450 shares of the scientific and technical instruments company’s stock valued at $380,000 after purchasing an additional 864 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in FARO Technologies by 7.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 13,061 shares of the scientific and technical instruments company’s stock valued at $384,000 after purchasing an additional 923 shares during the last quarter. Institutional investors own 96.56% of the company’s stock.

FARO Technologies Company Profile

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. It 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.