FARO Technologies (FARO) is Reiterated by Needham to Buy, Lowers Price Target to $ 36

FARO Technologies (FARO) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 36 from a previous price target of $39 . Needham advised their investors in a research report released on Aug 4, 2016.

Many Wall Street Analysts have commented on FARO Technologies. FBR Capital Reiterated FARO Technologies on May 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $34.

On the company’s financial health, FARO Technologies reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.30. The company had revenue of $78.54 million for the quarter, compared to analysts expectations of $84.70 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

FARO Technologies closed down -1.35 points or -3.79% at $34.29 with 1,19,984 shares getting traded on Tusday. Post opening the session at $35.7, the shares hit an intraday low of $34.29 and an intraday high of $36 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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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