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

Cognex Co. (NASDAQ:CGNX) has been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $49.13.

Several brokerages have recently commented on CGNX. Morgan Stanley decreased their target price on Cognex from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. BidaskClub lowered Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Needham & Company LLC lowered Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein lowered Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

NASDAQ CGNX traded down $0.77 during mid-day trading on Tuesday, reaching $43.77. 564,467 shares of the company’s stock traded hands, compared to its average volume of 1,701,937. Cognex has a 1-year low of $34.88 and a 1-year high of $59.18. The firm’s fifty day simple moving average is $44.05. The company has a current ratio of 7.92, a quick ratio of 7.07 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $7.60 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 3.44 and a beta of 2.08.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The firm had revenue of $199.00 million during the quarter, compared to analyst estimates of $194.65 million. During the same quarter last year, the firm earned $0.31 EPS. Cognex’s quarterly revenue was down 5.8% on a year-over-year basis. Equities analysts expect that Cognex will post 0.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is 16.13%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Iberiabank Corp lifted its holdings in shares of Cognex by 3.8% in the 1st quarter. Iberiabank Corp now owns 6,224 shares of the scientific and technical instruments company’s stock worth $317,000 after purchasing an additional 229 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of Cognex by 2.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 8,859 shares of the scientific and technical instruments company’s stock worth $451,000 after purchasing an additional 248 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cognex by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,270 shares of the scientific and technical instruments company’s stock worth $1,596,000 after purchasing an additional 270 shares during the last quarter. Private Capital Group LLC lifted its holdings in shares of Cognex by 50.7% in the 1st quarter. Private Capital Group LLC now owns 847 shares of the scientific and technical instruments company’s stock worth $43,000 after purchasing an additional 285 shares during the last quarter. Finally, Bellecapital International Ltd. lifted its holdings in shares of Cognex by 0.6% in the 2nd quarter. Bellecapital International Ltd. now owns 57,550 shares of the scientific and technical instruments company’s stock worth $2,761,000 after purchasing an additional 350 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Cognex Company Profile

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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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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