Cognex (NASDAQ:CGNX) Rating Lowered to Hold at HSBC

Cognex (NASDAQ:CGNX) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat reports. They presently have a $33.00 price target on the scientific and technical instruments company’s stock. HSBC’s price target points to a potential upside of 0.62% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group lowered their price target on Cognex from $39.00 to $35.00 and set a “sell” rating on the stock in a research report on Tuesday, February 18th. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Cognex in a research report on Thursday, January 2nd. Robert W. Baird lowered their price target on Cognex from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Needham & Company LLC lowered their price target on Cognex from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cognex currently has an average rating of “Hold” and a consensus target price of $44.83.

Cognex Stock Performance

NASDAQ CGNX opened at $32.80 on Friday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 53.77 and a beta of 1.40. The stock’s 50 day moving average price is $37.35 and its two-hundred day moving average price is $38.75. Cognex has a 52 week low of $32.35 and a 52 week high of $53.13.

Cognex (NASDAQ:CGNX) last released its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Cognex had a net margin of 11.61% and a return on equity of 5.65%. On average, equities research analysts forecast that Cognex will post 0.61 EPS for the current year.

Insider Buying and Selling

In related news, CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total value of $110,758.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Institutional Trading of Cognex

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Cognex by 123.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 394 shares during the period. SBI Securities Co. Ltd. bought a new stake in Cognex in the 4th quarter valued at $29,000. SRS Capital Advisors Inc. boosted its stake in Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 295 shares during the period. Truvestments Capital LLC bought a new stake in Cognex in the 3rd quarter valued at $36,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in Cognex by 129.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 569 shares during the period. 88.12% of the stock is currently owned by institutional investors.

About Cognex

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.