FARO Technologies (FARO) is Reiterated by FBR Capital to Mkt Perform, Price Target at $34

FARO Technologies (FARO) was Reiterated by FBR Capital to “Mkt Perform” and the brokerage firm has set the Price Target at $34. FBR Capital advised their investors in a research report released on May 11, 2016.

Many Wall Street Analysts have commented on FARO Technologies. Company shares were Reiterated by Needham on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 39 from a previous price target of $37 .Noble Financial Upgraded FARO Technologies on May 5, 2016 to ” Buy”, Price Target of the shares are set at $41.

On the company’s financial health, FARO Technologies reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.06. The company had revenue of $75.70 million for the quarter, compared to analysts expectations of $71.56 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

FARO Technologies opened for trading at $33.23 and hit $34.88 on the upside on Tuesday, eventually ending the session at $34.37, with a gain of 2.41% or 0.81 points. The heightened volatility saw the trading volume jump to 1,49,175 shares. Company has a market cap of $572 M.

In a different news, on May 9, 2016, Stephen Cole (director) purchased 5,000 shares at $33.80 per share price. According to the SEC, on Nov 9, 2015, Marvin R Sambur (director) purchased 2,200 shares at $24.96 per share price. On Mar 2, 2015, Jay Freeland (President & CEO) sold 40,000 shares at $60.33 per share price, according to the Form-4 filing with the securities and exchange commission.

FARO Technologies Inc. designs develops manufactures markets and supports software driven three-dimensional (3-D) measurement imaging and realization systems. The Company operates in three segments: Americas Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing industrial architecture surveying building construction and law enforcement applications. Its FaroArm FARO Laser ScanArm FARO Gage FARO Laser Tracker FARO 3D Imager AMP and their companion CAM2 software provide for Computer-Aided Design (CAD)-based inspection and/or factory-level statistical process control and surveying. Its FARO Focus3D and FARO Freestyle3D laser scanners and their companion SCENE and FARO forensic software are utilized for a variety of 3-D modeling documentation and surveying applications including in two of its vertical markets: architecture engineering and construction and law enforcement.

FARO Technologies

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