Cognex Corporation (CGNX) Given New $120.00 Price Target at Canaccord Genuity
Cognex Corporation (NASDAQ:CGNX) had its target price upped by stock analysts at Canaccord Genuity from $95.00 to $120.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the scientific and technical instruments company’s stock. Canaccord Genuity’s target price would suggest a potential downside of 2.56% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Cowen and Company reiterated a “buy” rating and set a $100.00 price objective on shares of Cognex Corporation in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, July 4th. Robert W. Baird raised their price target on shares of Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Finally, BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $97.00.
Shares of Cognex Corporation (NASDAQ:CGNX) traded down 0.41% during midday trading on Tuesday, reaching $123.15. 2,384,375 shares of the company were exchanged. The stock’s 50-day moving average price is $116.54 and its 200-day moving average price is $99.84. Cognex Corporation has a 52-week low of $49.68 and a 52-week high of $129.89. The company has a market capitalization of $10.66 billion, a PE ratio of 56.26 and a beta of 1.42.
Cognex Corporation (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. During the same period in the prior year, the firm posted $0.61 EPS. The firm’s revenue was up 75.6% compared to the same quarter last year. Analysts anticipate that Cognex Corporation will post $2.56 EPS for the current year.
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In other Cognex Corporation news, Director Bruce Robinson J sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total value of $745,500.00. Following the completion of the transaction, the director now directly owns 5,625 shares in the company, valued at $599,062.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Willett sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $103.37, for a total transaction of $2,584,250.00. Following the completion of the transaction, the chief executive officer now owns 25,000 shares of the company’s stock, valued at $2,584,250. The disclosure for this sale can be found here. Insiders sold a total of 126,750 shares of company stock worth $13,242,726 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. AHL Partners LLP boosted its holdings in shares of Cognex Corporation by 0.8% in the second quarter. AHL Partners LLP now owns 2,842 shares of the scientific and technical instruments company’s stock worth $241,000 after buying an additional 23 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Cognex Corporation by 2.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after buying an additional 47 shares during the period. Sawtooth Solutions LLC boosted its holdings in shares of Cognex Corporation by 1.3% in the second quarter. Sawtooth Solutions LLC now owns 4,009 shares of the scientific and technical instruments company’s stock worth $340,000 after buying an additional 51 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Cognex Corporation by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,645 shares of the scientific and technical instruments company’s stock worth $1,074,000 after buying an additional 75 shares during the period. Finally, BB&T Corp boosted its holdings in shares of Cognex Corporation by 2.0% in the second quarter. BB&T Corp now owns 4,661 shares of the scientific and technical instruments company’s stock worth $395,000 after buying an additional 92 shares during the period. Institutional investors own 86.45% of the company’s stock.
Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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