Needham & Company LLC Raises FARO Technologies (NASDAQ:FARO) Price Target to $26.00

FARO Technologies (NASDAQ:FARO) had its price target raised by research analysts at Needham & Company LLC from $24.00 to $26.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 38.08% from the company’s current price.

Separately, Craig Hallum decreased their target price on FARO Technologies from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

FARO Technologies Trading Up 3.6 %

NASDAQ:FARO opened at $18.83 on Thursday. The stock has a fifty day simple moving average of $17.93 and a 200 day simple moving average of $17.53. The firm has a market capitalization of $367.19 million, a price-to-earnings ratio of -23.84 and a beta of 1.26. FARO Technologies has a 1-year low of $13.52 and a 1-year high of $24.80. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.14. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%. The business had revenue of $82.09 million for the quarter.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the completion of the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at $2,233,363.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On FARO Technologies

Institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in FARO Technologies by 912.2% during the second quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 1,651 shares in 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 purchasing an additional 1,828 shares in the last quarter. SG Americas Securities LLC acquired a new position in FARO Technologies during the third quarter worth $141,000. American Century Companies Inc. raised its holdings in 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 buying an additional 2,993 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of FARO Technologies by 3.1% in the first 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 buying an additional 897 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

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.