FARO Technologies (NASDAQ:FARO) Price Target Raised to $30.00 at Craig Hallum

FARO Technologies (NASDAQ:FARO) had its target price increased by equities research analysts at Craig Hallum from $25.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s target price indicates a potential upside of 11.61% from the company’s previous close.

Separately, Needham & Company LLC boosted their price objective on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday.

FARO Technologies Stock Performance

Shares of FARO Technologies stock opened at $26.88 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. FARO Technologies has a 52-week low of $13.52 and a 52-week high of $26.89. The company’s 50 day moving average price is $18.26 and its 200-day moving average price is $17.64.

FARO Technologies (NASDAQ:FARO) last posted its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.14. The company had revenue of $82.09 million for the quarter. FARO Technologies had a negative return on equity of 2.47% and a negative net margin of 1.87%.

Insider Activity

In related news, CEO Peter James Lau sold 5,435 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the sale, the chief executive officer now directly owns 133,975 shares of the company’s stock, valued at $2,233,363.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of FARO Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of FARO. Quarry LP grew its stake in shares of FARO Technologies by 912.2% in the 2nd quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 1,651 shares during the last quarter. CWM LLC boosted its holdings in FARO Technologies by 343.6% in the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 1,828 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of FARO Technologies in the third quarter worth $141,000. American Century Companies Inc. increased its holdings in shares of FARO Technologies by 16.7% during the second quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock valued at $334,000 after acquiring an additional 2,993 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of FARO Technologies by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock worth $642,000 after purchasing an additional 897 shares during the last quarter. 97.19% of the stock is 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 measurement, imaging, and realization solutions worldwide. 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 position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.