Cognex Corporation (CGNX) Given Average Rating of “Buy” by Brokerages
Shares of Cognex Corporation (NASDAQ:CGNX) have earned an average recommendation of “Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $83.14.
A number of analysts have commented on the stock. Cowen and Company reaffirmed a “buy” rating and set a $100.00 target price on shares of Cognex Corporation in a report on Tuesday, July 11th. Wolfe Research assumed coverage on shares of Cognex Corporation in a report on Tuesday, July 11th. They set a “peer perform” rating for the company. Zacks Investment Research raised shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Tuesday, July 4th. Finally, BidaskClub cut shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th.
In other Cognex Corporation news, CEO Robert Willett sold 8,241 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $103.09, for a total value of $849,564.69. Following the completion of the transaction, the chief executive officer now directly owns 8,241 shares in the company, valued at $849,564.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodor Krantz sold 9,750 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $103.78, for a total transaction of $1,011,855.00. Following the completion of the transaction, the director now owns 22,500 shares of the company’s stock, valued at $2,335,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,750 shares of company stock valued at $11,940,676. Company insiders own 5.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Segantii Capital Management Ltd bought a new position in shares of Cognex Corporation in the first quarter worth approximately $101,000. Daiwa Securities Group Inc. bought a new position in shares of Cognex Corporation in the second quarter worth approximately $102,000. IFP Advisors Inc boosted its position in shares of Cognex Corporation by 172.3% in the first quarter. IFP Advisors Inc now owns 1,307 shares of the scientific and technical instruments company’s stock worth $110,000 after purchasing an additional 827 shares during the period. Fifth Third Bancorp boosted its position in shares of Cognex Corporation by 69.9% during the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after acquiring an additional 650 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Cognex Corporation during the second quarter worth $135,000. Institutional investors and hedge funds own 87.30% of the company’s stock.
Shares of Cognex Corporation (CGNX) opened at 108.33 on Tuesday. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 49.49 and a beta of 1.40. Cognex Corporation has a 52 week low of $47.25 and a 52 week high of $110.69. The stock’s 50 day moving average is $99.74 and its 200 day moving average is $89.22.
Cognex Corporation (NASDAQ:CGNX) last announced its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The business had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Cognex Corporation will post $2.56 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a $0.085 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.31%. Cognex Corporation’s payout ratio is currently 15.60%.
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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