Cognex (CGNX) Stock Rating Lowered by BidaskClub

Cognex (NASDAQ:CGNX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on CGNX. Zacks Investment Research cut Cognex from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective (up previously from $47.00) on shares of Cognex in a research note on Tuesday, February 12th. ValuEngine upgraded Cognex from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Gordon Haskett assumed coverage on Cognex in a research note on Wednesday, April 17th. They issued a “hold” rating and a $54.00 price objective for the company. Finally, Sanford C. Bernstein cut Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price objective for the company. in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.20.

CGNX stock opened at $44.01 on Tuesday. The company has a market cap of $7.55 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 3.07 and a beta of 1.95. Cognex has a fifty-two week low of $34.88 and a fifty-two week high of $59.18.



Cognex (NASDAQ:CGNX) last posted its earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $173.50 million during the quarter, compared to analysts’ expectations of $172.16 million. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. As a group, analysts forecast that Cognex will post 1.02 EPS for the current year.

In other Cognex news, Director Theodor Krantz sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the sale, the director now owns 52,500 shares in the company, valued at $2,791,950. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John J. Curran sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $49.01, for a total value of $2,450,500.00. Following the completion of the sale, the insider now owns 12,500 shares of the company’s stock, valued at approximately $612,625. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Iberiabank Corp grew its holdings in Cognex by 3.8% during the first quarter. Iberiabank Corp now owns 6,224 shares of the scientific and technical instruments company’s stock worth $317,000 after acquiring an additional 229 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Cognex by 2.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 8,859 shares of the scientific and technical instruments company’s stock worth $451,000 after acquiring an additional 248 shares during the period. Private Capital Group LLC grew its holdings in Cognex by 50.7% during the first quarter. Private Capital Group LLC now owns 847 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 285 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in Cognex by 9.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,822 shares of the scientific and technical instruments company’s stock worth $148,000 after acquiring an additional 335 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Cognex by 3.9% during the first quarter. Private Advisor Group LLC now owns 8,927 shares of the scientific and technical instruments company’s stock worth $454,000 after acquiring an additional 335 shares during the period. 97.06% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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