Cognex (NASDAQ:CGNX) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Cognex (NASDAQ:CGNX) from a hold rating to a sell rating in a research report released on Tuesday, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. BidaskClub raised Cognex from a hold rating to a buy rating in a research note on Saturday, September 14th. DA Davidson increased their price target on Cognex from $40.00 to $45.00 and gave the stock a neutral rating in a research note on Monday, September 23rd. Robert W. Baird increased their price target on Cognex from $42.00 to $47.00 and gave the stock a neutral rating in a research note on Monday, September 23rd. Cowen reissued an outperform rating and issued a $60.00 price target (up previously from $50.00) on shares of Cognex in a research note on Monday, September 23rd. Finally, Morgan Stanley decreased their price target on Cognex from $47.00 to $43.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Cognex has an average rating of Hold and an average target price of $50.09.

Shares of CGNX opened at $48.92 on Tuesday. The company has a market cap of $7.99 billion, a P/E ratio of 39.45 and a beta of 2.08. The stock has a fifty day moving average price of $47.22 and a 200 day moving average price of $46.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.92 and a quick ratio of 7.07. Cognex has a 12 month low of $34.88 and a 12 month high of $57.31.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The firm had revenue of $199.00 million during the quarter, compared to the consensus estimate of $194.65 million. During the same period in the prior year, the business earned $0.31 EPS. The firm’s revenue was down 5.8% on a year-over-year basis. As a group, research analysts anticipate that Cognex will post 0.86 earnings per share for the current year.

In other news, Director Dianne M. Parrotte sold 900 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $40,500.00. Following the completion of the transaction, the director now owns 19,700 shares of the company’s stock, valued at $886,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc lifted its holdings in shares of Cognex by 1,081.8% in the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 476 shares during the period. Huntington National Bank lifted its holdings in shares of Cognex by 173.6% in the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 401 shares during the period. Coastal Capital Group Inc. acquired a new stake in shares of Cognex in the second quarter valued at $38,000. Advisory Services Network LLC lifted its holdings in shares of Cognex by 77.1% in the second quarter. Advisory Services Network LLC now owns 1,261 shares of the scientific and technical instruments company’s stock valued at $61,000 after buying an additional 549 shares during the period. Finally, First National Corp MA ADV lifted its holdings in shares of Cognex by 93.2% in the first quarter. First National Corp MA ADV now owns 1,420 shares of the scientific and technical instruments company’s stock valued at $72,000 after buying an additional 685 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which 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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