Hodges Capital Management Inc. Makes New Investment in FARO Technologies, Inc. (NASDAQ:FARO)

Hodges Capital Management Inc. purchased a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 124,000 shares of the scientific and technical instruments company’s stock, valued at approximately $3,144,000. Hodges Capital Management Inc. owned 0.66% of FARO Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of FARO. Royce & Associates LP raised its position in shares of FARO Technologies by 20.0% during the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock worth $26,969,000 after buying an additional 234,650 shares in the last quarter. Needham Investment Management LLC increased its position in shares of FARO Technologies by 20.0% during the 3rd quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock valued at $19,700,000 after purchasing an additional 171,300 shares during the period. Harvey Partners LLC raised its stake in shares of FARO Technologies by 17.8% in the 3rd quarter. Harvey Partners LLC now owns 1,006,000 shares of the scientific and technical instruments company’s stock worth $19,255,000 after buying an additional 152,000 shares in the last quarter. Polar Asset Management Partners Inc. lifted its holdings in shares of FARO Technologies by 0.4% in the third quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock valued at $12,954,000 after buying an additional 2,700 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in FARO Technologies by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock worth $9,671,000 after acquiring an additional 59,142 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on FARO shares. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Craig Hallum boosted their target price on FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC lifted their price target on FARO Technologies from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th.

FARO Technologies Trading Down 4.1 %

Shares of NASDAQ FARO opened at $30.42 on Tuesday. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $32.90. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $575.55 million, a PE ratio of -86.91 and a beta of 1.40. The business has a 50-day moving average price of $27.70 and a two-hundred day moving average price of $21.79.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.