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

Cognex Co. (NASDAQ:CGNXGet Rating) has received an average recommendation of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $78.82.

Several brokerages recently commented on CGNX. DA Davidson dropped their target price on shares of Cognex from $85.00 to $80.00 in a report on Friday, February 18th. Cowen dropped their target price on shares of Cognex from $95.00 to $75.00 in a report on Tuesday, May 10th. Cowen dropped their target price on shares of Cognex from $95.00 to $75.00 in a report on Tuesday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Cognex in a report on Friday, February 18th. Finally, TheStreet downgraded shares of Cognex from a “b-” rating to a “c+” rating in a report on Tuesday.

CGNX stock opened at $46.16 on Friday. Cognex has a 1 year low of $44.60 and a 1 year high of $92.17. The company has a fifty day simple moving average of $64.97 and a 200 day simple moving average of $69.44. The firm has a market cap of $8.02 billion, a PE ratio of 29.78 and a beta of 1.63.

Cognex (NASDAQ:CGNXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. The business had revenue of $282.40 million during the quarter, compared to analyst estimates of $277.23 million. Cognex had a net margin of 25.67% and a return on equity of 19.48%. Cognex’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Sell-side analysts anticipate that Cognex will post 1.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, May 19th. Cognex’s dividend payout ratio is 16.77%.

In related news, Director Dianne M. Parrotte acquired 3,000 shares of the stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $46.00 per share, with a total value of $138,000.00. Following the completion of the transaction, the director now directly owns 3,608 shares of the company’s stock, valued at $165,968. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CGNX. Spire Wealth Management boosted its holdings in Cognex by 81.0% during the fourth quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. UMB Bank N A MO acquired a new stake in Cognex in the fourth quarter valued at $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 acquiring an additional 259 shares during the last quarter. Sageworth Trust Co of South Dakota acquired a new stake in Cognex in the fourth quarter valued at $36,000. Finally, Ceredex Value Advisors LLC acquired a new stake in Cognex in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 88.85% 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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