Comerica Bank reduced its position in FARO Technologies, Inc. (NASDAQ:FARO) by 5.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,243 shares of the scientific and technical instruments company’s stock after selling 859 shares during the period. Comerica Bank owned 0.09% of FARO Technologies worth $768,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in FARO. Pinnacle Associates Ltd. bought a new stake in shares of FARO Technologies during the first quarter valued at about $8,479,000. Alps Advisors Inc. grew its holdings in shares of FARO Technologies by 16.8% during the first quarter. Alps Advisors Inc. now owns 11,659 shares of the scientific and technical instruments company’s stock worth $512,000 after purchasing an additional 1,675 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of FARO Technologies during the first quarter worth about $251,000. Fisher Asset Management LLC grew its holdings in shares of FARO Technologies by 7.2% during the second quarter. Fisher Asset Management LLC now owns 59,901 shares of the scientific and technical instruments company’s stock worth $3,150,000 after purchasing an additional 4,040 shares in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of FARO Technologies by 2,116.9% during the first quarter. Penserra Capital Management LLC now owns 15,385 shares of the scientific and technical instruments company’s stock worth $864,000 after purchasing an additional 14,691 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.
FARO traded down $0.30 during midday trading on Friday, hitting $54.57. The stock had a trading volume of 4,798 shares, compared to its average volume of 72,693. The company has a market cap of $920.18 million, a P/E ratio of 118.70 and a beta of 1.77. FARO Technologies, Inc. has a 1 year low of $37.58 and a 1 year high of $67.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.16. The business has a fifty day moving average of $50.52 and a 200 day moving average of $49.39.
FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.27. The firm had revenue of $93.50 million during the quarter, compared to analyst estimates of $96.32 million. FARO Technologies had a positive return on equity of 3.42% and a negative net margin of 0.75%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities research analysts anticipate that FARO Technologies, Inc. will post 0.25 earnings per share for the current year.
Several research analysts have recently commented on FARO shares. ValuEngine lowered FARO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. BidaskClub raised FARO Technologies from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research raised FARO Technologies from a “sell” rating to a “hold” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $56.95.
In related news, Director John Donofrio sold 2,873 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $52.43, for a total transaction of $150,631.39. Following the completion of the transaction, the director now owns 21,075 shares in the company, valued at $1,104,962.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.
FARO Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.
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