Cognex (NASDAQ:CGNX) has been assigned a $80.00 price objective by equities researchers at Deutsche Bank in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Deutsche Bank’s price objective suggests a potential upside of 15.84% from the company’s current price.
Several other equities analysts have also commented on the company. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research lowered Cognex from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 2nd. ValuEngine lowered Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. lowered Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target on the stock. in a research note on Wednesday, November 8th. Finally, Canaccord Genuity upped their price target on Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $63.00.
Cognex (NASDAQ:CGNX) traded up $0.79 during midday trading on Friday, reaching $69.06. The company’s stock had a trading volume of 1,529,599 shares, compared to its average volume of 1,660,000. The firm has a market capitalization of $12,100.00, a price-to-earnings ratio of 50.78 and a beta of 1.50. Cognex has a one year low of $32.05 and a one year high of $72.99.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05. The company had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The firm’s revenue for the quarter was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. research analysts forecast that Cognex will post 1.39 EPS for the current year.
In related news, Director Jeffrey Benjamin Miller sold 7,500 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $124.23, for a total transaction of $931,725.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick Alias sold 5,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $143.54, for a total value of $717,700.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,750 shares of company stock worth $18,540,975. 5.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank lifted its stake in Cognex by 67.3% during the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after acquiring an additional 550 shares in the last quarter. Private Advisor Group LLC acquired a new position in Cognex during the 3rd quarter worth about $214,000. Coldstream Capital Management Inc. acquired a new position in Cognex during the 3rd quarter worth about $203,000. Empirical Finance LLC acquired a new position in Cognex during the 3rd quarter worth about $209,000. Finally, Wealthsource Partners LLC acquired a new position in Cognex during the 3rd quarter worth about $212,000. 42.10% of the stock is currently owned by hedge funds and other institutional investors.
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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.