Cognex Corp. PT Raised to $62.00 at Robert W. Baird (CGNX)
Stock analysts at Robert W. Baird boosted their target price on shares of Cognex Corp. (NASDAQ:CGNX) from $55.00 to $62.00 in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 2.52% from the stock’s previous close.
Cognex Corp. (NASDAQ:CGNX) opened at 63.60 on Thursday. Cognex Corp. has a one year low of $32.29 and a one year 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 price-to-earnings ratio of 42.12.
Cognex Corp. (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Cognex Corp. will post $1.62 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. downgraded shares of Cognex Corp. (NASDAQ:CGNX) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. Separately, 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 Piper Jaffray Cos. raised their price target on shares of Cognex Corp. (NASDAQ:CGNX) from $33.00 to $34.00 in a research note to investors on Tuesday, July 30th.
Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $59.33.
In other Cognex Corp. news, CFO Richard Morin sold 7,500 shares of Cognex Corp. stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $60.38, for a total value of $452,850.00. The transaction was disclosed in a legal 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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