FARO Technologies Downgraded to “Underperform” at Zacks (FARO)

Share on StockTwits

FARO Technologies (NASDAQ: FARO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, StockRatingsNetwork.com reports. They currently have a $35.80 price objective on the stock. Zacks‘ price objective points to a potential downside of 4.91% from the stock’s previous close.

Shares of FARO Technologies (NASDAQ: FARO) traded down 2.74% during mid-day trading on Tuesday, hitting $36.62. FARO Technologies has a one year low of $31.10 and a one year high of $57.93. The stock’s 50-day moving average is currently $41.49. The company has a market cap of $625.9 million and a P/E ratio of 30.86.

FARO Technologies (NASDAQ: FARO) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that FARO Technologies will post $1.44 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Gabelli initiated coverage on shares of FARO Technologies in a research note to investors on Friday. They set a “hold” rating and a $39.00 price target 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.

One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.16.

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.

To view Zacks’ full report, visit www.zacks.com

Latest News

Microsoft Sales Pass Street Estimates
Microsoft Sales Pass Street Estimates
Unilever Sales Growth Slowest in Five Years
Unilever Sales Growth Slowest in Five Years
Yahoo Up After Reaping Riches from Alibaba
Yahoo Up After Reaping Riches from Alibaba
Economy in China Grows at Five-Year Low
Economy in China Grows at Five-Year Low
Philips Announced Spinoff on Track but Posts Loss
Philips Announced Spinoff on Track but Posts Loss
Honeywell Profit Passes Forecast, Seeking Deals
Honeywell Profit Passes Forecast, Seeking Deals


Leave a Reply

Advertisement
Advertisement
© 2006-2014 Ticker Report. Google+.