Cognex Corp. Downgraded by Credit Agricole to “Underperform” (CGNX)
Cognex Corp. (NASDAQ:CGNX) was downgraded by analysts at Credit Agricole from an “outperform” rating to an “underperform” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
Cognex Corp. (NASDAQ:CGNX) traded down 10.10% on Friday, hitting $35.88. The stock had a trading volume of 1,625,847 shares. Cognex Corp. has a 52 week low of $18.435 and a 52 week high of $40.14. The stock has a 50-day moving average of $38.10 and a 200-day moving average of $32.64. The company has a market cap of $3.132 billion and a price-to-earnings ratio of 51.17.
Cognex Corp. (NASDAQ:CGNX) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.03. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $94.67 million. During the same quarter last year, the company posted $0.40 earnings per share. Cognex Corp.’s revenue was up 16.5% compared to the same quarter last year. Analysts expect that Cognex Corp. will post $1.01 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company raised their price target on shares of Cognex Corp. from $37.00 to $45.00 in a research note on Thursday, January 2nd. Analysts at BB&T Corp. initiated coverage on shares of Cognex Corp. in a research note on Wednesday, December 18th. They set a “buy” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.50.
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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