Cognex Corp. (NASDAQ:CGNX) was upgraded by equities researchers at from an “underperform” rating to an “outperform” rating in a research report issued to clients and investors on Monday.
Several other brokerages have also recently issued reports on CGNX. Canaccord Genuity restated a “hold” rating on shares of Cognex Corp. in a report on Wednesday, November 2nd. Needham & Company LLC raised their target price on shares of Cognex Corp. from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research cut shares of Cognex Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 19th. Finally, Stephens started coverage on shares of Cognex Corp. in a report on Tuesday, October 25th. They issued an “equal weight” rating and a $50.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Cognex Corp. presently has an average rating of “Buy” and a consensus price target of $49.11.
Cognex Corp. (NASDAQ:CGNX) opened at 60.75 on Monday. The firm has a market cap of $5.20 billion, a P/E ratio of 40.37 and a beta of 1.32. The firm’s 50-day moving average is $54.31 and its 200 day moving average is $48.09. Cognex Corp. has a 12-month low of $28.01 and a 12-month high of $61.50.
Cognex Corp. (NASDAQ:CGNX) last issued its earnings results on Monday, October 31st. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.13. Cognex Corp. had a net margin of 26.59% and a return on equity of 13.67%. The firm had revenue of $147.95 million for the quarter, compared to analysts’ expectations of $50.93 million. During the same quarter last year, the business earned $1.19 earnings per share. The business’s revenue was up 37.5% on a year-over-year basis. Equities analysts forecast that Cognex Corp. will post $1.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, November 30th. Cognex Corp.’s dividend payout ratio is currently 20.13%.
In other Cognex Corp. news, Director Patrick Alias sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $54.07, for a total transaction of $540,700.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $540,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Willett sold 100,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $55.69, for a total value of $5,569,000.00. Following the transaction, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at approximately $2,784,500. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC raised its position in Cognex Corp. by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,683 shares of the company’s stock valued at $633,000 after buying an additional 38 shares in the last quarter. Commerce Bank raised its position in Cognex Corp. by 0.4% in the second quarter. Commerce Bank now owns 14,341 shares of the company’s stock valued at $618,000 after buying an additional 55 shares in the last quarter. Intrust Bank NA raised its position in Cognex Corp. by 0.9% in the third quarter. Intrust Bank NA now owns 7,253 shares of the company’s stock valued at $384,000 after buying an additional 64 shares in the last quarter. Creative Planning raised its position in Cognex Corp. by 1.9% in the second quarter. Creative Planning now owns 3,669 shares of the company’s stock valued at $158,000 after buying an additional 70 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Cognex Corp. by 3.3% in the second quarter. Stephens Inc. AR now owns 2,839 shares of the company’s stock valued at $122,000 after buying an additional 92 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.
Cognex Corp. Company Profile