Moisand Fitzgerald Tamayo LLC maintained its position in Faro Technologies Inc. (NASDAQ:FARO) during the third quarter, Holdings Channel reports. The fund owned 11,000 shares of the company’s stock at the end of the third quarter. Moisand Fitzgerald Tamayo LLC owned 0.07% of Faro Technologies worth $395,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in FARO. Lucus Advisors LLC acquired a new position in Faro Technologies during the third quarter valued at approximately $273,000. Princeton Capital Management Inc. raised its position in Faro Technologies by 0.9% in the third quarter. Princeton Capital Management Inc. now owns 48,302 shares of the company’s stock valued at $1,736,000 after buying an additional 430 shares during the last quarter. Bank of New York Mellon Corp raised its position in Faro Technologies by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 464,509 shares of the company’s stock valued at $16,700,000 after buying an additional 5,500 shares during the last quarter. Aperio Group LLC acquired a new position in Faro Technologies during the third quarter valued at approximately $205,000. Finally, Suffolk Capital Management LLC raised its position in Faro Technologies by 10.9% in the third quarter. Suffolk Capital Management LLC now owns 50,683 shares of the company’s stock valued at $1,822,000 after buying an additional 4,971 shares during the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.
Shares of Faro Technologies Inc. (NASDAQ:FARO) opened at 37.15 on Monday. The stock has a 50 day moving average price of $34.29 and a 200 day moving average price of $34.30. Faro Technologies Inc. has a 12 month low of $20.72 and a 12 month high of $38.01. The stock has a market cap of $619.44 million, a P/E ratio of 37.83 and a beta of 1.45.
Faro Technologies (NASDAQ:FARO) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.13. The company had revenue of $79.60 million for the quarter, compared to the consensus estimate of $77.82 million. Faro Technologies had a return on equity of 5.45% and a net margin of 5.06%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. Equities analysts anticipate that Faro Technologies Inc. will post $0.79 EPS for the current fiscal year.
Several equities analysts recently commented on the company. Zacks Investment Research lowered Faro Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, November 4th. Needham & Company LLC lowered their price target on Faro Technologies from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $38.00 price target on shares of Faro Technologies in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $36.17.
About Faro Technologies
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.