Cognex (NASDAQ:CGNX) Stock Rating Upgraded by Stephens

Cognex (NASDAQ:CGNX) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $55.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $45.00. Stephens’ price objective suggests a potential upside of 37.53% from the company’s previous close.

Several other equities research analysts also recently weighed in on CGNX. StockNews.com upgraded shares of Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Robert W. Baird decreased their price objective on Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Vertical Research initiated coverage on Cognex in a report on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 target price on the stock. Needham & Company LLC increased their price target on Cognex from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cognex presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Cognex Trading Down 0.5 %

Shares of NASDAQ CGNX opened at $39.99 on Wednesday. The stock has a market cap of $6.86 billion, a P/E ratio of 68.95 and a beta of 1.41. Cognex has a twelve month low of $34.28 and a twelve month high of $53.13. The stock has a 50 day moving average of $39.27 and a two-hundred day moving average of $43.00.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $239.00 million during the quarter, compared to the consensus estimate of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. Cognex’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, research analysts predict that Cognex will post 0.44 earnings per share for the current year.

Insider Activity at Cognex

In related news, Director Dianne M. Parrotte bought 2,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the transaction, the director now owns 11,340 shares of the company’s stock, valued at $437,950.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Dianne M. Parrotte bought 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the transaction, the director now owns 11,340 shares in the company, valued at $437,950.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dennis Fehr bought 6,570 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at $249,922.80. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Cognex

Institutional investors and hedge funds have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its position in shares of Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 286 shares during the last quarter. Rise Advisors LLC raised its holdings in shares of Cognex by 1,239.7% in the first quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 719 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Cognex by 303.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 579 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cognex by 276.1% in the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 798 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Cognex during the second quarter valued at $55,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.