HighPoint Advisor Group LLC Takes $831,000 Position in FARO Technologies, Inc. (FARO)

HighPoint Advisor Group LLC purchased a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 16,389 shares of the scientific and technical instruments company’s stock, valued at approximately $831,000. HighPoint Advisor Group LLC owned approximately 0.10% of FARO Technologies as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FARO. Ark Investment Management LLC boosted its stake in shares of FARO Technologies by 86.2% during the 2nd quarter. Ark Investment Management LLC now owns 9,870 shares of the scientific and technical instruments company’s stock worth $373,000 after acquiring an additional 4,569 shares in the last quarter. State Street Corp boosted its stake in shares of FARO Technologies by 4.0% during the 2nd quarter. State Street Corp now owns 406,941 shares of the scientific and technical instruments company’s stock worth $15,381,000 after acquiring an additional 15,551 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of FARO Technologies by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,292 shares of the scientific and technical instruments company’s stock worth $502,000 after acquiring an additional 154 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of FARO Technologies by 50.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,955 shares of the scientific and technical instruments company’s stock worth $343,000 after acquiring an additional 2,999 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of FARO Technologies by 59.3% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,260 shares of the scientific and technical instruments company’s stock worth $239,000 after acquiring an additional 2,330 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

How to Become a New Pot Stock Millionaire

Shares of FARO Technologies, Inc. (NASDAQ FARO) opened at $59.85 on Tuesday. The stock has a market capitalization of $990.22, a price-to-earnings ratio of -68.22 and a beta of 1.44. FARO Technologies, Inc. has a 1-year low of $31.90 and a 1-year high of $63.90.

FARO Technologies (NASDAQ:FARO) last released its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.14. The company had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.31 million. FARO Technologies had a positive return on equity of 1.39% and a negative net margin of 4.02%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. sell-side analysts forecast that FARO Technologies, Inc. will post 1.07 earnings per share for the current fiscal year.

In related news, SVP Jody Storm Gale sold 10,666 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $59.77, for a total transaction of $637,506.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon Raab sold 11,700 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $59.93, for a total value of $701,181.00. Following the sale, the insider now owns 38,478 shares of the company’s stock, valued at $2,305,986.54. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on FARO. Zacks Investment Research raised FARO Technologies from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective for the company in a research note on Monday, February 26th. BidaskClub upgraded FARO Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. Needham & Company LLC increased their target price on FARO Technologies to $65.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Craig Hallum restated a “buy” rating and issued a $68.00 target price (up previously from $60.00) on shares of FARO Technologies in a report on Friday, February 23rd. Finally, Noble Financial restated a “buy” rating on shares of FARO Technologies in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. FARO Technologies currently has a consensus rating of “Buy” and an average target price of $58.67.

ILLEGAL ACTIVITY WARNING: This story was first posted by Stock Observer and is owned by of Stock Observer. If you are viewing this story on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this story can be read at https://www.thestockobserver.com/2018/03/20/highpoint-advisor-group-llc-takes-831000-position-in-faro-technologies-inc-faro.html.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply