Stock analysts at KeyCorp started coverage on shares of Cognex (NASDAQ:CGNX – Get Free Report) in a research report issued to clients and investors on Monday, FlyOnTheWall reports. The brokerage set a “sector weight” rating on the scientific and technical instruments company’s stock.
CGNX has been the topic of a number of other reports. CL King assumed coverage on Cognex in a report on Friday, June 23rd. They issued a “neutral” rating on the stock. Morgan Stanley upped their price target on shares of Cognex from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Friday, August 4th. Credit Suisse Group dropped their price target on Cognex from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, August 7th. Citigroup assumed coverage on Cognex in a research report on Wednesday, August 30th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Cognex in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Cognex presently has a consensus rating of “Hold” and an average target price of $51.00.
Get Our Latest Research Report on CGNX
Cognex Stock Performance
Cognex (NASDAQ:CGNX – Get Free Report) last issued its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.13. Cognex had a net margin of 19.31% and a return on equity of 10.32%. The company had revenue of $242.51 million for the quarter, compared to analysts’ expectations of $230.99 million. Equities research analysts predict that Cognex will post 0.51 EPS for the current fiscal year.
Hedge Funds Weigh In On Cognex
A number of hedge funds have recently made changes to their positions in the company. Natixis acquired a new position in Cognex in the 2nd quarter valued at $26,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Cognex in the 1st quarter worth approximately $25,000. Nemes Rush Group LLC purchased a new position in Cognex in the 2nd quarter worth approximately $36,000. Altshuler Shaham Ltd acquired a new stake in shares of Cognex in the fourth quarter valued at approximately $44,000. Finally, Janiczek Wealth Management LLC lifted its position in Cognex by 32.6% during the second quarter. Janiczek Wealth Management LLC now owns 1,090 shares of the scientific and technical instruments company’s stock worth $61,000 after buying an additional 268 shares in the last quarter. Institutional investors and hedge funds own 89.86% of the company’s stock.
About Cognex
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.
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