Cognex (NASDAQ:CGNX) Upgraded to “Buy” by HSBC


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Cognex (NASDAQ:CGNX) was upgraded by HSBC from a “hold” rating to a “buy” rating in a report released on Thursday, Anlyst Ratings reports.

Other research analysts have also issued reports about the stock. Morgan Stanley increased their price target on shares of Cognex from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Thursday, October 29th. Robert W. Baird upgraded shares of Cognex from an “underperform” rating to a “neutral” rating and set a $63.00 price target for the company in a research note on Thursday, October 29th. Zacks Investment Research lowered shares of Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, December 29th. TheStreet upgraded shares of Cognex from a “c+” rating to a “b-” rating in a research note on Friday, October 30th. Finally, Stephens assumed coverage on shares of Cognex in a research note on Friday, October 16th. They issued an “overweight” rating and a $85.00 price target for the company. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $61.00.

Shares of NASDAQ CGNX opened at $86.56 on Thursday. Cognex has a 12 month low of $35.20 and a 12 month high of $88.15. The firm has a market capitalization of $15.12 billion, a PE ratio of 81.66 and a beta of 1.64. The firm has a fifty day simple moving average of $79.52 and a two-hundred day simple moving average of $69.50.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Wednesday, October 28th. The scientific and technical instruments company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.16. Cognex had a net margin of 24.72% and a return on equity of 13.45%. The business had revenue of $251.07 million during the quarter, compared to analyst estimates of $213.73 million. Research analysts expect that Cognex will post 0.94 EPS for the current year.

In other news, Director Eugene G. Banucci sold 10,400 shares of the firm’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $75.48, for a total transaction of $784,992.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $1,132,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Theodor Krantz sold 14,670 shares of the firm’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $72.13, for a total transaction of $1,058,147.10. Following the sale, the director now directly owns 35,830 shares in the company, valued at approximately $2,584,417.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 407,400 shares of company stock worth $29,351,115. Insiders own 5.20% of the company’s stock.

Large investors have recently modified their holdings of the company. Gradient Investments LLC bought a new position in shares of Cognex in the 3rd quarter worth approximately $26,000. CI Investments Inc. bought a new position in shares of Cognex in the 3rd quarter worth approximately $29,000. Orion Portfolio Solutions LLC lifted its stake in shares of Cognex by 42.8% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 604 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 181 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Cognex in the 3rd quarter worth approximately $44,000. Finally, Hall Laurie J Trustee bought a new position in shares of Cognex in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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