Cognex (NASDAQ:CGNX) had its target price hoisted by equities research analysts at Morgan Stanley from $39.00 to $55.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the scientific and technical instruments company’s stock. Morgan Stanley’s price target points to a potential downside of 17.75% from the company’s previous close.

A number of other equities research analysts have also recently commented on CGNX. ValuEngine raised shares of Cognex from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Robert W. Baird downgraded Cognex from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $44.00 to $45.00 in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on Cognex from $36.00 to $40.00 and gave the stock an “underweight” rating in a research note on Friday, April 17th. BidaskClub raised Cognex from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Zacks Investment Research cut shares of Cognex from a “hold” rating to a “sell” rating in a research note on Wednesday, July 1st. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $53.40.

CGNX opened at $66.87 on Friday. The company has a quick ratio of 3.59, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. Cognex has a 52 week low of $35.20 and a 52 week high of $66.95. The business’s 50 day moving average is $60.53 and its two-hundred day moving average is $53.68. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 82.56 and a beta of 1.79.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.11). Cognex had a return on equity of 10.67% and a net margin of 20.50%. The business had revenue of $169.10 million for the quarter, compared to analysts’ expectations of $149.90 million. During the same quarter last year, the business posted $0.27 earnings per share. The business’s revenue was down 15.0% on a year-over-year basis. Equities analysts expect that Cognex will post 0.58 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV purchased a new stake in Cognex during the second quarter worth about $26,000. Signaturefd LLC lifted its position in shares of Cognex by 115.7% during the 1st quarter. Signaturefd LLC now owns 742 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 398 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Cognex during the 2nd quarter worth approximately $45,000. Allworth Financial LP acquired a new stake in shares of Cognex in the 2nd quarter worth approximately $48,000. Finally, Exchange Traded Concepts LLC increased its stake in Cognex by 1,192.1% in the 2nd quarter. Exchange Traded Concepts LLC now owns 814 shares of the scientific and technical instruments company’s stock valued at $49,000 after purchasing an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 93.97% of the company’s stock.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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