NEW YORK ( TheStreet) -- Faro Technologies (Nasdaq: FARO) hit a new 52-week high Wednesday as it traded at $37.96 compared with its previous 52-Week high of $37.95. Faro is changing hands at $37.90 with 21,393 shares traded as of 11:45 a.m. ET. Average volume has been 86,000 shares over the past 30 days.

Faro has a market cap of $599 million and is part of the technology sector and electronics industry. Shares are up 14.1% year to date as of the close of trading on Tuesday.

FARO Technologies, Inc. designs, develops, manufactures, markets, and supports portable, software driven, three-D measurement systems used in a range of manufacturing, industrial, building construction, and forensic applications. The company has a P/E ratio of 54.3, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 16.1.
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TheStreet Ratings rates Faro as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Faro Ratings Report.

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