The stock of Cognex Corporation (NASDAQ:CGNX) hit a new 52-week high and has $66.56 target or 28.00% above today’s $52.00 share price. The 8 months bullish chart indicates low risk for the $4.44B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $66.56 price target is reached, the company will be worth $1.24 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 509,109 shares traded hands or 30.89% up from the average. Cognex Corporation (NASDAQ:CGNX) has risen 33.96% since March 30, 2016 and is uptrending. It has outperformed by 30.94% the S&P500.
Analysts await Cognex Corporation (NASDAQ:CGNX) to report earnings on November, 7. They expect $0.46 EPS, up 109.09% or $0.24 from last year’s $0.22 per share. CGNX’s profit will be $39.28M for 28.26 P/E if the $0.46 EPS becomes a reality. After $0.50 actual EPS reported by Cognex Corporation for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.
Cognex Corporation (NASDAQ:CGNX) Ratings Coverage
Out of 10 analysts covering Cognex Corporation (NASDAQ:CGNX), 3 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 30% are positive. $61 is the highest target while $33 is the lowest. The $48.68 average target is -6.38% below today’s ($52) stock price. Cognex Corporation has been the topic of 21 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Friday, September 18, the company rating was initiated by Nomura. Canaccord Genuity maintained Cognex Corporation (NASDAQ:CGNX) on Tuesday, November 3 with “Hold” rating. FBR Capital initiated the stock with “Mkt Perform” rating in Wednesday, November 11 report. The company was downgraded on Tuesday, November 3 by CLSA. The stock of Cognex Corporation (NASDAQ:CGNX) has “Market Perform” rating given on Wednesday, May 11 by FBR Capital. Needham maintained Cognex Corporation (NASDAQ:CGNX) rating on Tuesday, August 4. Needham has “Buy” rating and $47 price target. The company was maintained on Tuesday, August 2 by CLSA. The rating was maintained by Canaccord Genuity with “Buy” on Friday, April 1. The firm earned “Outperform” rating on Friday, January 22 by Raymond James. The stock of Cognex Corporation (NASDAQ:CGNX) has “Outperform” rating given on Tuesday, November 3 by Credit Agricole.
According to Zacks Investment Research, “Cognex Corp. designs, develops, manufactures, and markets machine vision systems that are used to automate a wide range of manufacturing processes where vision is required. Cognex machine vision systems consist of two primary elements: a computer, which serves as a machine vision engine, and software that processes and analyzes images. When connected to a video camera, the machine vision system captures images and extracts information, which determines appropriate action for other equipment in the manufacturing process.”
Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.01, from 1.12 in 2016Q1. The ratio improved, as 21 funds sold all Cognex Corporation shares owned while 81 reduced positions. 32 funds bought stakes while 83 increased positions. They now own 71.25 million shares or 14.59% less from 83.42 million shares in 2016Q1.
Commonwealth Of Pennsylvania Pub School Empls Retrmt Systems owns 16,370 shares or 0.01% of their US portfolio. Barclays Pcl holds 0% of its portfolio in Cognex Corporation (NASDAQ:CGNX) for 7,304 shares. The Washington-based Washington Tru Commercial Bank has invested 0% in Cognex Corporation (NASDAQ:CGNX). Moreover, Tradewinds Capital Ltd Limited Liability Company has 0.02% invested in Cognex Corporation (NASDAQ:CGNX) for 650 shares. Janus Mgmt Limited Liability Company has 68,800 shares for 0% of their US portfolio. Manufacturers Life Insurance Communications The holds 0.01% of its portfolio in Cognex Corporation (NASDAQ:CGNX) for 121,733 shares. Ameritas Invest Prtnrs last reported 0.04% of its portfolio in the stock. Artisan Partners Partnership accumulated 1.59 million shares or 0.15% of the stock. Wcm Investment Mngmt Ca has 0.27% invested in the company for 389,131 shares. Moreover, Rhumbline Advisers has 0.02% invested in Cognex Corporation (NASDAQ:CGNX) for 155,581 shares. Segall Bryant Hamill Limited Liability has 4,800 shares for 0.01% of their US portfolio. Mackenzie, a Ontario – Canada-based fund reported 27,907 shares. National Bank & Trust Of Nova Scotia has 0% invested in the company for 16,990 shares. Nationwide Fund Advsrs last reported 0.11% of its portfolio in the stock. Morgan Stanley has 0.01% invested in the company for 327,043 shares.
Insider Transactions: Since May 18, 2016, the stock had 1 insider purchase, and 10 sales for $12.09 million net activity. ALIAS PATRICK had sold 7,500 shares worth $363,550. Shares for $77,606 were bought by BANUCCI EUGENE G. KRANTZ THEODOR sold $1.00M worth of stock or 20,000 shares. $282,007 worth of Cognex Corporation (NASDAQ:CGNX) shares were sold by MORIN RICHARD. miller jeffrey benjamin sold $990,248 worth of stock or 20,000 shares. On Wednesday, August 3 Willett Robert sold $5.99 million worth of the stock or 125,000 shares. WASSERMAN REUBEN had sold 7,500 shares worth $322,866.
More notable recent Cognex Corporation (NASDAQ:CGNX) news were published by: Streetinsider.com which released: “Cognex Corp (CGNX) Acquires 3D Companies EnShape GmbH and AQSense” on October 31, 2016, also Fool.com with their article: “Cognex Corporation Does It Again” published on August 02, 2016, Fool.com published: “Cognex Corporation Soars After Strong Earnings” on May 03, 2016. More interesting news about Cognex Corporation (NASDAQ:CGNX) were released by: Fool.com and their article: “3 Things to Look Out for When Cognex Corp. Reports Earnings” published on July 29, 2016 as well as Fool.com‘s news article titled: “Cognex Corporation Repeats a Recurring Theme” with publication date: February 11, 2016.
CGNX Company Profile
Cognex Corporation (Cognex), incorporated on January 7, 1981, is a well-known provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process. The Company’s products include vision software, vision systems, vision sensors and ID products. The Company’s products range from vision sensors that are integrated, to personal computer (PC) systems for users. The Company’s products have a range of physical forms, depending upon the user’s need. Cognex sells its products through a direct sales force, as well as through a global network of integration and distribution partners. The Company’s service offerings include maintenance and support, consulting and training services.
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