Cognex (CGNX) Lifted to “Hold” at Zacks Investment Research

Cognex (NASDAQ:CGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “

Several other research firms have also recently weighed in on CGNX. ValuEngine cut shares of Cognex from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Canaccord Genuity increased their price target on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Robert W. Baird increased their price target on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, Deutsche Bank set a $80.00 price target on shares of Cognex and gave the company a “buy” rating in a report on Friday, January 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $63.00.

Cognex (NASDAQ CGNX) traded up $0.28 during trading on Tuesday, reaching $55.17. 2,440,000 shares of the company’s stock traded hands, compared to its average volume of 1,640,000. The company has a market cap of $9,550.00, a PE ratio of 40.57 and a beta of 1.44. Cognex has a 52-week low of $34.33 and a 52-week high of $72.99.

In other news, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $143.54, for a total transaction of $717,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Cognex by 100.1% in the fourth quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $125,000 after acquiring an additional 963 shares during the last quarter. Cerebellum GP LLC bought a new position in Cognex in the fourth quarter valued at approximately $126,000. Strs Ohio bought a new position in Cognex in the fourth quarter valued at approximately $133,000. Finally, Clear Perspective Advisors LLC increased its stake in Cognex by 100.0% in the fourth quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $135,000 after acquiring an additional 1,100 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Cognex (CGNX) Lifted to “Hold” at Zacks Investment Research” was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/13/cognex-cgnx-lifted-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Cognex (CGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cognex (NASDAQ:CGNX)

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply