Noble Financial Upgrades FARO Technologies to Buy (FARO)

By admin | 6 years ago

FARO Technologies (NASDAQ: FARO) was upgraded by equities researchers at Noble Financial from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Shares of FARO Technologies traded down 1.05% during mid-day trading on Wednesday, hitting $51.59. FARO Technologies has a 52 week low of $29.45 and a 52 week high of $59.66. The company has a market cap of $873.0 million and a P/E ratio of 33.06.

The company last announced its quarterly results on Tuesday, May 1st. It reported $0.39 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.31 EPS by $0.08. The company’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts predict that FARO Technologies will post $0.51 earnings per share next quarter.

A number of other firms have also recently commented on FARO. Analysts at Needham & Company reiterated a “buy” rating on shares of FARO Technologies in a research note to investors on Monday, March 12nd. Analysts at Robert W. Baird downgraded shares of FARO Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, February 29th. They now have a $59.00 price target on the stock, up previously from $56.00.

FARO Technologies, Inc. designs, develops, manufactures, markets and supports portable, software driven, three-dimensional (3-D) measurement and imaging systems used in a range of manufacturing, industrial, building construction and forensic applications.

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