Cognex Corp. Lowered to “Neutral” at Citigroup Inc. (CGNX)
Cognex Corp. (NASDAQ:CGNX) was downgraded by equities research analysts at Citigroup Inc. from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Shares of Cognex Corp. (NASDAQ:CGNX) opened at 63.60 on Thursday. Cognex Corp. has a 52-week low of $32.29 and a 52-week high of $65.20. The stock has a 50-day moving average of $56.12 and a 200-day moving average of $46.58. The company has a market cap of $2.766 billion and a P/E ratio of 42.12.
Cognex Corp. (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.05. The company had revenue of $86.51 million for the quarter, compared to the consensus estimate of $85.30 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Cognex Corp. will post $1.62 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray Cos. upgraded shares of Cognex Corp. (NASDAQ:CGNX) from an “underweight” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $58.00 price target on the stock, up previously from $34.00. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Cognex Corp. (NASDAQ:CGNX) in a research note to investors on Tuesday, July 30th. They now have a $58.00 price target on the stock, up previously from $56.00.
In other Cognex Corp. news, CFO Richard Morin sold 7,500 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $60.38, for a total transaction of $452,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Cognex Corporation (NASDAQ:CGNX) is a provider of machine vision products, which capture and analyze visual information in order to automate tasks, in manufacturing processes, where vision is required.
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