Cognex Co. (CGNX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cognex Co. (NASDAQ:CGNX) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $64.20.

Several equities analysts have recently issued reports on the stock. ValuEngine cut shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. BidaskClub cut shares of Cognex from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. J P Morgan Chase & Co downgraded shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 target price on the stock. in a research report on Wednesday, November 8th. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, November 1st. Finally, Canaccord Genuity lifted their target price on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, October 31st.

Cognex (NASDAQ:CGNX) opened at $62.66 on Thursday. The stock has a market cap of $10,850.00, a P/E ratio of 46.86 and a beta of 1.50. Cognex has a 52 week low of $31.18 and a 52 week high of $72.99.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The company had revenue of $259.74 million for the quarter, compared to analysts’ expectations of $255.95 million. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The business’s revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. research analysts predict that Cognex will post 1.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Thursday, November 16th. Cognex’s dividend payout ratio (DPR) is currently 13.24%.

In related news, Director Jeffrey Benjamin Miller sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $134.48, for a total transaction of $504,300.00. Following the completion of the sale, the director now directly owns 3,750 shares in the company, valued at $504,300. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,750 shares of company stock worth $18,540,975. 5.60% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of CGNX. Ameriprise Financial Inc. boosted its holdings in shares of Cognex by 126.7% during the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after purchasing an additional 1,309,047 shares during the period. Coatue Management LLC acquired a new stake in shares of Cognex during the second quarter worth approximately $87,064,000. Harding Loevner LP boosted its holdings in shares of Cognex by 50.1% during the third quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after purchasing an additional 947,119 shares during the period. American Century Companies Inc. acquired a new stake in shares of Cognex during the second quarter worth approximately $31,281,000. Finally, Whale Rock Capital Management LLC boosted its holdings in shares of Cognex by 124.9% during the third quarter. Whale Rock Capital Management LLC now owns 451,928 shares of the scientific and technical instruments company’s stock worth $49,839,000 after purchasing an additional 250,946 shares during the period. Institutional investors and hedge funds own 84.25% of the company’s stock.

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Cognex 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.

Analyst Recommendations for Cognex (NASDAQ:CGNX)

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