Brokerages Set Cognex Co. (CGNX) Target Price at $64.20

Cognex Co. (NASDAQ:CGNX) has earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $64.20.

Several research firms have recently issued reports on CGNX. Zacks Investment Research cut shares of Cognex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. J P Morgan Chase & Co cut shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective for the company. in a research report on Wednesday, November 8th. Robert W. Baird lifted their price objective on shares of Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. BidaskClub cut shares of Cognex from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Canaccord Genuity lifted their price objective on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, October 31st.

Cognex (NASDAQ:CGNX) traded up $0.08 during trading on Thursday, hitting $60.97. 3,524,202 shares of the stock traded hands, compared to its average volume of 2,695,132. The stock has a market cap of $10,558.36, a PE ratio of 45.00 and a beta of 1.50. Cognex has a 1-year low of $31.18 and a 1-year high of $72.99.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The business had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The company’s revenue for the quarter was up 75.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. analysts anticipate that Cognex will post 1.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a $0.045 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.18 dividend on an annualized basis and a yield of 0.30%. Cognex’s dividend payout ratio (DPR) is presently 13.28%.

In related news, insider John J. Curran sold 12,500 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $132.60, for a total value of $1,657,500.00. Following the completion of the sale, the insider now directly owns 6,250 shares of the company’s stock, valued at $828,750. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Benjamin Miller sold 7,500 shares of Cognex stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $124.23, for a total transaction of $931,725.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,750 shares of company stock valued at $18,540,975. 5.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC increased its stake in Cognex by 19.9% in the third quarter. Parametric Portfolio Associates LLC now owns 124,168 shares of the scientific and technical instruments company’s stock valued at $13,693,000 after purchasing an additional 20,615 shares during the period. AXA increased its stake in Cognex by 10.3% in the third quarter. AXA now owns 640,617 shares of the scientific and technical instruments company’s stock valued at $70,648,000 after purchasing an additional 60,015 shares during the period. Wealthsource Partners LLC acquired a new position in Cognex in the third quarter valued at $212,000. Belpointe Asset Management LLC acquired a new position in Cognex in the third quarter valued at $255,000. Finally, Cetera Advisors LLC acquired a new position in Cognex in the third quarter valued at $276,000. Institutional investors own 84.25% of the company’s stock.

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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.

Analyst Recommendations for Cognex (NASDAQ:CGNX)

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