StockNews.com Upgrades Cognex (NASDAQ:CGNX) to Hold

Cognex (NASDAQ:CGNX) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

CGNX has been the subject of a number of other research reports. Vertical Research began coverage on shares of Cognex in a report on Tuesday. They set a “buy” rating and a $58.00 price objective for the company. Truist Financial lifted their price objective on shares of Cognex from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Stephens lifted their price objective on shares of Cognex from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Citigroup boosted their price target on shares of Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Needham & Company LLC boosted their price target on shares of Cognex from $46.00 to $48.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cognex presently has an average rating of “Hold” and an average target price of $50.14.

Cognex Trading Down 3.1 %

CGNX stock opened at $48.69 on Wednesday. Cognex has a 12 month low of $34.28 and a 12 month high of $55.08. The company has a 50-day moving average price of $47.38 and a 200 day moving average price of $42.65. The stock has a market cap of $8.36 billion, a PE ratio of 83.95 and a beta of 1.42.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. Cognex had a net margin of 11.76% and a return on equity of 6.81%. The firm had revenue of $210.80 million during the quarter, compared to analysts’ expectations of $198.14 million. Sell-side analysts forecast that Cognex will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James Trust N.A. grew its position in Cognex by 5.9% during the 2nd quarter. Raymond James Trust N.A. now owns 15,828 shares of the scientific and technical instruments company’s stock worth $740,000 after purchasing an additional 883 shares during the last quarter. Baillie Gifford & Co. grew its position in Cognex by 11.6% during the 2nd quarter. Baillie Gifford & Co. now owns 1,299,175 shares of the scientific and technical instruments company’s stock worth $60,749,000 after purchasing an additional 134,833 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Cognex during the 2nd quarter worth approximately $17,095,000. Slow Capital Inc. grew its position in Cognex by 9.0% during the 2nd quarter. Slow Capital Inc. now owns 71,178 shares of the scientific and technical instruments company’s stock worth $3,328,000 after purchasing an additional 5,874 shares during the last quarter. Finally, JB Capital LLC purchased a new stake in Cognex during the 2nd quarter worth approximately $1,380,000. Institutional investors own 88.12% of the company’s stock.

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.