FARO Technologies Coverage Initiated at Gabelli (FARO)

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Stock analysts at Gabelli initiated coverage on shares of FARO Technologies (NASDAQ: FARO) in a report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $39.00 price target on the stock. Gabelli’s price objective points to a potential upside of 4.22% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at Needham & Company raised their price target on shares of FARO Technologies from $40.00 to $48.00 in a research note to investors on Friday, May 3rd. They now have a “buy” rating on the stock. Analysts at Zacks downgraded shares of FARO Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, May 1st. They now have a $46.30 price target on the stock.

Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.26.

FARO Technologies (NASDAQ: FARO) opened at 37.42 on Friday. FARO Technologies has a 1-year low of $31.10 and a 1-year high of $57.93. The stock’s 50-day moving average is currently $41.49. The company has a market cap of $639.5 million and a price-to-earnings ratio of 30.67.

FARO Technologies (NASDAQ: FARO) last released its earnings data on Wednesday, May 1st. The company reported $0.27 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.03. The company had revenue of $65.40 million for the quarter, compared to the consensus estimate of $67.61 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that FARO Technologies will post $1.44 earnings per share for the current fiscal year.

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

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