Hodges Capital Management Inc. Acquires Shares of 124,000 FARO Technologies, Inc. (NASDAQ:FARO)

Hodges Capital Management Inc. bought a new position in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 124,000 shares of the scientific and technical instruments company’s stock, valued at approximately $3,144,000.

Several other hedge funds have also modified their holdings of the stock. Harvey Partners LLC boosted 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 valued at $19,255,000 after purchasing an additional 152,000 shares during the last quarter. Quest Partners LLC grew its holdings in FARO Technologies by 196.7% during the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock worth $605,000 after acquiring an additional 20,963 shares during the period. Barclays PLC raised its position in shares of FARO Technologies by 41.4% during the 3rd quarter. Barclays PLC now owns 61,125 shares of the scientific and technical instruments company’s stock valued at $1,171,000 after acquiring an additional 17,892 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of FARO Technologies in the 2nd quarter worth $901,000. Finally, Geode Capital Management LLC grew its stake in shares of FARO Technologies by 4.4% during the third quarter. Geode Capital Management LLC now owns 450,899 shares of the scientific and technical instruments company’s stock worth $8,633,000 after purchasing an additional 19,005 shares during the period. 97.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

FARO Technologies Stock Down 4.1 %

FARO opened at $30.42 on Tuesday. 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 stock’s fifty day simple moving average is $27.70 and its 200 day simple moving average is $21.79. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $32.90. The stock has a market cap of $575.55 million, a PE ratio of -86.91 and a beta of 1.40.

FARO Technologies 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.