Cognex Co. (NASDAQ:CGNX) Receives $90.29 Average Target Price from Brokerages

Cognex Co. (NASDAQ:CGNX) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $90.29.

CGNX has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Cognex in a research note on Friday, August 6th. DA Davidson reaffirmed a “neutral” rating on shares of Cognex in a research note on Tuesday, August 10th. HSBC cut shares of Cognex from a “buy” rating to a “hold” rating and set a $92.00 target price for the company. in a research note on Friday, August 6th. Finally, Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Wednesday, August 11th.

In other news, Director Patrick Alias sold 17,500 shares of the business’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $87.19, for a total transaction of $1,525,825.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony Sun sold 30,000 shares of Cognex stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $86.41, for a total transaction of $2,592,300.00. Following the transaction, the director now owns 337,262 shares in the company, valued at approximately $29,142,809.42. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC lifted its holdings in shares of Cognex by 33.5% during the 2nd quarter. Penserra Capital Management LLC now owns 558 shares of the scientific and technical instruments company’s stock valued at $46,000 after acquiring an additional 140 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Cognex by 0.4% during the 1st quarter. Xponance Inc. now owns 35,805 shares of the scientific and technical instruments company’s stock valued at $2,971,000 after acquiring an additional 146 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Cognex by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 23,761 shares of the scientific and technical instruments company’s stock valued at $1,997,000 after acquiring an additional 163 shares in the last quarter. Keybank National Association OH lifted its holdings in Cognex by 3.2% in the 2nd quarter. Keybank National Association OH now owns 5,338 shares of the scientific and technical instruments company’s stock worth $449,000 after buying an additional 168 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Cognex by 155.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 306 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Shares of CGNX stock traded up $1.06 during midday trading on Friday, reaching $86.14. 5,103 shares of the company traded hands, compared to its average volume of 725,800. The firm’s 50 day simple moving average is $86.47 and its two-hundred day simple moving average is $83.04. Cognex has a 1-year low of $59.86 and a 1-year high of $101.82. The firm has a market cap of $15.22 billion, a PE ratio of 50.05 and a beta of 1.65.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, August 5th. The scientific and technical instruments company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.05. Cognex had a net margin of 30.96% and a return on equity of 21.92%. The business had revenue of $269.16 million during the quarter, compared to analysts’ expectations of $263.11 million. As a group, equities research analysts expect that Cognex will post 1.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. Cognex’s dividend payout ratio is presently 24.00%.

Cognex Company Profile

Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks in processes, where vision is required. The company was founded by Robert J. Shillman, William Silver and Marilyn Matz in 1981 and is headquartered in Natick, MA.

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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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