A number of other brokerages also recently commented on CGNX. Sanford C. Bernstein downgraded 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. Morgan Stanley lowered their price objective 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. Zacks Investment Research upgraded Cognex from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Needham & Company LLC downgraded Cognex from a buy rating to a hold rating in a research note on Tuesday, April 30th. Finally, ValuEngine downgraded Cognex from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $50.60.
Shares of NASDAQ CGNX traded up $0.67 during trading on Friday, reaching $44.19. The stock had a trading volume of 983,400 shares, compared to its average volume of 1,639,691. Cognex has a one year low of $34.88 and a one year high of $59.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.07 and a current ratio of 7.92. The stock has a market cap of $7.54 billion, a PE ratio of 35.64, a P/E/G ratio of 3.37 and a beta of 2.08. The firm’s 50 day moving average price is $43.66 and its two-hundred day moving average price is $47.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. Cognex’s dividend payout ratio (DPR) is presently 16.13%.
In other Cognex news, Director Dianne M. Parrotte sold 900 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the transaction, the director now owns 19,700 shares in the company, valued at approximately $886,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. 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. Bremer Bank National Association acquired a new stake in shares of Cognex in the first quarter valued at $27,000. 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. Osborn Williams & Donohoe LLC acquired a new stake in shares of Cognex during the first quarter worth $33,000. Finally, Coastal Capital Group Inc. acquired a new stake in shares of Cognex during the second quarter worth $38,000. Institutional investors own 95.04% of the company’s stock.
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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