Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein cut shares of Encana from an outperform rating to a market perform rating in a report on Tuesday, April 30th. Gordon Haskett initiated coverage on shares of Cognex in a report on Wednesday, April 17th. They set a hold rating and a $54.00 price objective for the company. Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the company a hold rating in a report on Friday, May 3rd. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $51.80.
NASDAQ:CGNX opened at $41.94 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.31 and a quick ratio of 7.46. The firm has a market capitalization of $7.28 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.84 and a beta of 2.05. The business has a fifty day moving average of $44.24. Cognex has a 12 month low of $34.88 and a 12 month high of $59.18.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $173.50 million during the quarter, compared to analysts’ expectations of $172.16 million. Cognex had a net margin of 26.55% and a return on equity of 18.90%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.21 earnings per share. On average, research analysts forecast that Cognex will post 1 EPS for the current year.
In other Cognex news, insider John J. Curran sold 50,000 shares of Cognex stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.01, for a total value of $2,450,500.00. Following the sale, the insider now owns 12,500 shares of the company’s stock, valued at $612,625. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Liberty Wealth Management LLC bought a new stake in Cognex in the fourth quarter worth about $25,000. Executive Wealth Management LLC bought a new stake in shares of Cognex in the fourth quarter valued at approximately $27,000. Bremer Bank National Association bought a new stake in shares of Cognex in the first quarter valued at approximately $27,000. Berman Capital Advisors LLC bought a new stake in shares of Cognex in the fourth quarter valued at approximately $29,000. Finally, Advisory Services Network LLC raised its position in shares of 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 purchasing an additional 533 shares during the period. 94.49% of the stock is currently owned by institutional investors and hedge funds.
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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