FARO Technologies (NASDAQ: FARO) was downgraded by equities research analysts at Noble Financial from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Separately, analysts at Zacks Investment Research downgraded shares of FARO Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Saturday, January 21st. Analysts at Robert W. Baird raised their price target on shares of FARO Technologies from $50.00 to $56.00 in a research note to investors on Thursday, January 12nd. They now have an “outperform” rating on the stock.
FARO Technologies, Inc. designs, develops, manufactures, markets and supports portable, software driven, three-dimensional (3-D) measurement and imaging systems used in a range of manufacturing, industrial, building construction and forensic applications. The Company’s FaroArm, FARO Laser ScanArm and FARO Gage articulated measuring devices, the FARO Laser Scanner Photon, the FARO Laser Tracker ION, and their companion CAM2 software, provide for computer-aided design (CAD)-based inspection and/or factory-level statistical process control and high-density surveying. Together, these products integrate the measurement, quality inspection, and reverse engineering functions with CAD software. The Company uses the acronym CAM2 for this process, which stands for computer-aided measurement. As of December 31, 2009, the Company’s products have been purchased by approximately 10,000 customers worldwide.
FARO Technologies traded down 2.80% on Monday, hitting $55.83. FARO Technologies has a 1-year low of $28.75 and a 1-year high of $58.41. The stock has a 50-day moving average of $49.29 and a 200-day moving average of $42.1. The company has a market cap of $928.3 million and a price-to-earnings ratio of 50.92.