FARO Technologies (NASDAQ:FARO) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of FARO Technologies (NASDAQ:FARO) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

Other research analysts also recently issued research reports about the stock. Craig Hallum upped their price objective on shares of FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price target on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

FARO Technologies Stock Performance

FARO opened at $27.63 on Tuesday. The firm has a fifty day moving average price of $18.67 and a 200 day moving average price of $17.75. FARO Technologies has a 1 year low of $13.52 and a 1 year high of $28.04. The stock has a market cap of $522.68 million, a P/E ratio of -78.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 2.01.

Insider Buying and Selling at FARO Technologies

In related news, CEO Peter James Lau sold 5,435 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 133,975 shares in the company, valued at $2,233,363.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of FARO Technologies

Several large investors have recently made changes to their positions in FARO. Quarry LP boosted its stake in FARO Technologies by 912.2% during the 2nd quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 1,651 shares during the last quarter. CWM LLC grew its stake in FARO Technologies by 343.6% during the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 1,828 shares in the last quarter. SG Americas Securities LLC acquired a new stake in FARO Technologies in the 3rd quarter valued at about $141,000. American Century Companies Inc. raised its holdings in FARO Technologies by 16.7% in the 2nd 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in 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 in the last quarter. 97.19% of the stock is currently 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.