Cognex (NASDAQ:CGNX) Price Target Raised to $64.00 at Barclays

by · The Markets Daily

Cognex (NASDAQ:CGNX – Get Free Report) had its price objective boosted by investment analysts at Barclays from $61.00 to $64.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price target points to a potential upside of 30.03% from the stock’s previous close.

CGNX has been the subject of a number of other reports. JPMorgan Chase & Co. raised shares of Cognex from an “underweight” rating to a “neutral” rating and set a $55.00 price target for the company in a report on Monday, March 9th. Needham & Company LLC boosted their price objective on shares of Cognex from $47.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. The Goldman Sachs Group upped their price objective on shares of Cognex from $50.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. UBS Group reiterated a “buy” rating and issued a $70.00 target price on shares of Cognex in a research note on Friday, February 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $63.00 target price on shares of Cognex in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Read Our Latest Analysis on Cognex

Cognex Trading Up 2.6%

NASDAQ:CGNX traded up $1.24 during mid-day trading on Monday, hitting $49.22. 350,144 shares of the company’s stock traded hands, compared to its average volume of 2,251,077. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 73.42 and a beta of 1.45. The firm has a 50 day moving average of $46.33 and a two-hundred day moving average of $43.18. Cognex has a 12 month low of $22.67 and a 12 month high of $59.88.

Cognex (NASDAQ:CGNX – Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $252.34 million for the quarter, compared to the consensus estimate of $238.92 million. Cognex had a return on equity of 9.02% and a net margin of 11.51%.The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. As a group, equities research analysts expect that Cognex will post 0.61 earnings per share for the current year.

Insider Transactions at Cognex

In other Cognex news, Director Robert Willett sold 177,052 shares of Cognex stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $58.39, for a total value of $10,338,066.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Laura Ann Macdonald sold 14,881 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $57.16, for a total value of $850,597.96. Following the completion of the transaction, the vice president directly owned 2,212 shares in the company, valued at approximately $126,437.92. This represents a 87.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 196,083 shares of company stock valued at $11,419,321 in the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Cognex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC acquired a new stake in Cognex in the 3rd quarter valued at about $26,000. REAP Financial Group LLC acquired a new position in shares of Cognex during the third quarter worth approximately $27,000. Geneos Wealth Management Inc. lifted its position in shares of Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 736 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in shares of Cognex during the second quarter valued at approximately $29,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Cognex by 74.8% in the third quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 327 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Company Profile

(Get Free Report)

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.

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