Faro Tech Inc (NASDAQ:FARO):
FAROÂ® Announces Acquisition of Dustin Forensics.
In the market the company is trading up from yesterday’s close of 51.6.
FARO Technologies, Inc., launched on December 28, 1992, designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. 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. The Business’s FaroArm, FARO Laser ScanArm, FARO Gage, FARO Laser Tracker, FARO Cobalt Array 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..
The company currently has a P/E ratio of 11 and market cap is 863.97M.
Traders are more bullish on shares of the company as implied by the decrease in short interest. The company experienced a fall in short interest of -11.12% as of the latest report on October 13, 2017. Short interest fell 86,186 over that timeframe. Days to cover decreased -4.0 to 5.0 and the percentage of shorted shares is 0.04% as of October 13.
A few brokerage analysts have released ratings on the company of late. On November 3, 2017 Noble Financial kept a “Buy” rating on the company. Equity analyst Craig Hallum released research on FARO and giving a rating of “Buy” and establishing a price target of $55.00.
On October 30 Canaccord Genuity kept the company rating at “Buy” targeting a price of $52.00. Equity analyst Stifel Nicolaus raised the price target on October 30 changing the price objective from $33.00 to $46.00 and issued a “Hold” rating.
October 29 investment analysts at Needham & Company LLC maintained a company rating of “Buy” with a current price target of $53.00. Stifel Nicolaus updated guidance on FARO stating a rating of “Hold” and setting a price target of $33.00.