Cognex (NASDAQ:CGNX) Upgraded at Stephens

Cognex (NASDAQ:CGNX) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, Briefing.com reports. The firm currently has a $55.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $45.00. Stephens’ target price points to a potential upside of 38.57% from the stock’s current price.

A number of other brokerages have also issued reports on CGNX. DA Davidson dropped their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Vertical Research began coverage on shares of Cognex in a report on Tuesday, July 23rd. They set a “buy” rating and a $58.00 target price for the company. Truist Financial lowered their price target on shares of Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on Cognex from $45.00 to $39.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Finally, Needham & Company LLC increased their price target on Cognex from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Cognex Stock Performance

NASDAQ CGNX opened at $39.69 on Wednesday. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 68.43 and a beta of 1.41. Cognex has a 52-week low of $34.28 and a 52-week high of $53.13. The business has a 50 day simple moving average of $39.19 and a 200 day simple moving average of $43.04.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $239.00 million for the quarter, compared to analysts’ expectations of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. On average, analysts predict that Cognex will post 0.44 EPS for the current year.

Insider Activity at Cognex

In other Cognex news, CFO Dennis Fehr acquired 6,570 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $38.04 per share, with a total value of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Dennis Fehr purchased 6,570 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the transaction, the chief financial officer now owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dianne M. Parrotte acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $38.62 per share, with a total value of $77,240.00. Following the transaction, the director now directly owns 11,340 shares of the company’s stock, valued at $437,950.80. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Cognex by 94.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 286 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in Cognex by 19.8% in the second quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock valued at $85,000 after buying an additional 301 shares in the last quarter. Fifth Third Bancorp grew its position in Cognex by 11.3% in the second quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock valued at $179,000 after acquiring an additional 390 shares during the last quarter. Park Avenue Securities LLC raised its stake in Cognex by 4.2% during the first quarter. Park Avenue Securities LLC now owns 11,514 shares of the scientific and technical instruments company’s stock worth $488,000 after acquiring an additional 468 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Cognex by 18.7% in the 1st quarter. Covestor Ltd now owns 2,977 shares of the scientific and technical instruments company’s stock valued at $126,000 after purchasing an additional 469 shares in the last quarter. 88.12% 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 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.