Gordon Haskett began coverage on shares of Cognex (NASDAQ:CGNX) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “hold” rating on the scientific and technical instruments company’s stock.
Several other equities research analysts have also recently commented on CGNX. Zacks Investment Research raised Cognex from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 3rd. BidaskClub raised Cognex from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (up from $47.00) on shares of Cognex in a research report on Tuesday, February 12th. Finally, ValuEngine raised Cognex from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.71.
Cognex stock opened at $55.98 on Wednesday. Cognex has a one year low of $34.88 and a one year high of $59.18. The firm has a market cap of $9.35 billion, a P/E ratio of 45.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.99.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Thursday, February 14th. The scientific and technical instruments company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Cognex had a return on equity of 19.75% and a net margin of 27.19%. The company had revenue of $193.29 million for the quarter, compared to analysts’ expectations of $184.82 million. During the same period last year, the firm posted ($0.16) earnings per share. Cognex’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Cognex will post 1.26 EPS for the current fiscal year.
In other Cognex news, Director Theodor Krantz sold 30,000 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the transaction, the director now owns 52,500 shares of the company’s stock, valued at $2,791,950. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. lifted its holdings in Cognex by 9.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,822 shares of the scientific and technical instruments company’s stock valued at $148,000 after acquiring an additional 335 shares during the period. Advisory Services Network LLC lifted its holdings in Cognex by 223.0% in the fourth quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 533 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of Cognex by 1.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 43,229 shares of the scientific and technical instruments company’s stock worth $1,672,000 after buying an additional 625 shares during the period. Liberty Wealth Management LLC bought a new position in shares of Cognex in the fourth quarter worth about $25,000. Finally, Ruggie Capital Group bought a new position in shares of Cognex in the fourth quarter worth about $27,000. 95.50% of the stock is currently owned by institutional investors.
Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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