Cognex Co. (NASDAQ:CGNX) Receives Average Rating of “Hold” from Brokerages

Cognex Co. (NASDAQ:CGNXGet Rating) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $84.67.

Several equities research analysts have weighed in on CGNX shares. JPMorgan Chase & Co. upgraded shares of Cognex from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $68.00 in a research report on Friday, February 18th. The Goldman Sachs Group lowered their price target on shares of Cognex from $77.00 to $67.00 and set a “sell” rating for the company in a research report on Monday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Cognex in a research report on Friday, February 18th. TheStreet cut shares of Cognex from a “b” rating to a “c+” rating in a research report on Tuesday, February 22nd. Finally, Morgan Stanley lifted their price target on shares of Cognex from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th.

CGNX traded down $0.84 during midday trading on Thursday, hitting $70.83. The company had a trading volume of 612,621 shares, compared to its average volume of 914,549. The company has a market capitalization of $12.32 billion, a PE ratio of 45.40 and a beta of 1.65. Cognex has a twelve month low of $61.51 and a twelve month high of $92.17. The firm’s 50-day simple moving average is $69.15 and its 200-day simple moving average is $74.88.

Cognex (NASDAQ:CGNXGet Rating) last posted its quarterly earnings data on Thursday, February 17th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. The firm had revenue of $244.07 million during the quarter, compared to analysts’ expectations of $224.48 million. Cognex had a net margin of 26.99% and a return on equity of 19.22%. During the same quarter last year, the company posted $0.39 EPS. On average, research analysts anticipate that Cognex will post 1.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Friday, March 4th were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 3rd. Cognex’s dividend payout ratio is currently 16.67%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Spire Wealth Management lifted its stake in Cognex by 81.0% in the fourth quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. UMB Bank N A MO bought a new position in Cognex in the fourth quarter valued at approximately $31,000. Huntington National Bank lifted its stake in Cognex by 137.0% in the fourth quarter. Huntington National Bank now owns 448 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 259 shares in the last quarter. Sageworth Trust Co of South Dakota bought a new stake in shares of Cognex in the fourth quarter worth $36,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Cognex in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

About Cognex (Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing 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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