Weekly Analysts’ Ratings Changes for Cognex (CGNX)

Cognex (NASDAQ: CGNX) has recently received a number of price target changes and ratings updates:

  • 11/2/2018 – Cognex was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 11/1/2018 – Cognex was given a new $49.00 price target on by analysts at Daiwa Capital Markets. They now have a “buy” rating on the stock.
  • 10/30/2018 – Cognex was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “
  • 10/30/2018 – Cognex had its price target lowered by analysts at Morgan Stanley from $52.00 to $40.00. They now have an “equal weight” rating on the stock.
  • 10/30/2018 – Cognex had its price target lowered by analysts at Needham & Company LLC from $52.00 to $45.00. They now have a “buy” rating on the stock.
  • 10/27/2018 – Cognex was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/16/2018 – Cognex was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $52.00 price target on the stock.
  • 10/11/2018 – Cognex was given a new $52.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 10/9/2018 – Cognex was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/3/2018 – Cognex was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “
  • 10/2/2018 – Cognex is now covered by analysts at DA Davidson. They set a “neutral” rating and a $57.00 price target on the stock.
  • 10/2/2018 – Cognex was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/26/2018 – Cognex was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/11/2018 – Cognex was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of Cognex stock opened at $46.66 on Wednesday. The stock has a market cap of $8.02 billion, a PE ratio of 32.18, a PEG ratio of 2.58 and a beta of 1.90. Cognex Co. has a 12 month low of $36.16 and a 12 month high of $72.99.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 29th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. The firm had revenue of $232.22 million for the quarter, compared to analyst estimates of $227.15 million. Cognex had a return on equity of 20.88% and a net margin of 18.52%. The company’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 EPS. On average, sell-side analysts anticipate that Cognex Co. will post 1.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, November 15th. This is a positive change from Cognex’s previous quarterly dividend of $0.05. This represents a $0.20 annualized dividend and a dividend yield of 0.43%. Cognex’s dividend payout ratio is 12.41%.

In related news, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total transaction of $271,450.00. Following the completion of the sale, the director now directly owns 7,000 shares in the company, valued at approximately $380,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Sun sold 10,000 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $56.04, for a total value of $560,400.00. Following the sale, the director now owns 264,262 shares of the company’s stock, valued at $14,809,242.48. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Capital Analysts LLC boosted its holdings in Cognex by 1,180.6% during the 2nd quarter. Capital Analysts LLC now owns 2,305 shares of the scientific and technical instruments company’s stock valued at $103,000 after acquiring an additional 2,125 shares during the period. CAPROCK Group Inc. purchased a new stake in Cognex during the 3rd quarter valued at about $221,000. Chatham Capital Group Inc. purchased a new stake in Cognex during the 3rd quarter valued at about $232,000. HMS Capital Management LLC purchased a new stake in Cognex during the 3rd quarter valued at about $242,000. Finally, Eastern Bank purchased a new stake in Cognex during the 2nd quarter valued at about $223,000. Institutional investors own 90.36% of the company’s stock.

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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