The stock of Cognex Corporation (NASDAQ:CGNX) reached all time high today, Nov, 21 and still has $85.58 target or 44.00% above today’s $59.43 share price. This indicates more upside for the $5.08B company. This technical setup was reported by Barchart.com. If the $85.58 PT is reached, the company will be worth $2.24 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.99% or $0.58 during the last trading session, hitting $59.43. About 396,487 shares traded hands. Cognex Corporation (NASDAQ:CGNX) has risen 56.77% since April 19, 2016 and is uptrending. It has outperformed by 52.91% the S&P500.
Cognex Corporation (NASDAQ:CGNX) Ratings Coverage
Out of 10 analysts covering Cognex Corporation (NASDAQ:CGNX), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. Cognex Corporation has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Hold” rating by Canaccord Genuity on Tuesday, August 4. The firm has “Outperform” rating given on Tuesday, November 3 by CLSA. The rating was maintained by Needham with “Buy” on Tuesday, November 1. The rating was initiated by Raymond James with “Outperform” on Friday, January 22. On Monday, November 7 the stock rating was upgraded by CLSA to “Outperform”. The stock of Cognex Corporation (NASDAQ:CGNX) has “Buy” rating given on Friday, April 1 by Canaccord Genuity. The firm has “Underperform” rating by CLSA given on Tuesday, August 2. On Friday, March 11 the stock rating was downgraded by Raymond James to “Market Perform”. The company was initiated on Monday, June 6 by Bernstein. As per Friday, September 18, the company rating was initiated by Nomura.
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 decreased to 1 in 2016 Q2. Its down 0.13, from 1.13 in 2016Q1. The ratio fall, 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.
Carroll Assoc, a North Carolina-based fund reported 128 shares. Wells Fargo And Co Mn has 1.65 million shares for 0.03% of their US portfolio. Bamco Ny reported 1.30 million shares or 0.3% of all its holdings. Rhumbline Advisers last reported 155,581 shares in the company. The United Kingdom-based Hsbc Holdg Public Ltd Liability Corp has invested 0% in Cognex Corporation (NASDAQ:CGNX). Keybank Natl Association Oh last reported 11,656 shares in the company. Credit Suisse Ag reported 273,537 shares or 0.01% of all its holdings. Swiss National Bank & Trust holds 0.01% or 134,551 shares in its portfolio. Washington Commercial Bank reported 44 shares or 0% of all its holdings. Jpmorgan Chase last reported 5,798 shares in the company. Mutual Of America Ltd Liability Co has 0.08% invested in the company for 87,159 shares. Bokf Na reported 8,851 shares or 0.01% of all its holdings. Mackenzie Fincl Corp holds 0.01% or 27,907 shares in its portfolio. The Texas-based Wfg Advisors Lp has invested 0.01% in Cognex Corporation (NASDAQ:CGNX). Brown Advisory Inc holds 0% or 6,065 shares in its portfolio.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 12 sales for $18.85 million net activity. 1,100 shares were sold by MORIN RICHARD, worth $55,387 on Friday, August 19. The insider Willett Robert sold 125,000 shares worth $5.99M. WASSERMAN REUBEN sold $322,866 worth of stock. On Friday, August 5 miller jeffrey benjamin sold $990,248 worth of the stock or 20,000 shares. ALIAS PATRICK sold $363,550 worth of stock or 7,500 shares. KRANTZ THEODOR had sold 20,000 shares worth $1.00 million.
More notable recent Cognex Corporation (NASDAQ:CGNX) news were published by: Fool.com which released: “Cognex Corporation Does It Again” on August 02, 2016, also Fool.com with their article: “Cognex Corporation Soars After Strong Earnings” published on May 03, 2016, Fool.com published: “Cognex Corporation Repeats a Recurring Theme” on February 11, 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: “3 Things to Look Out for When Cognex Corporation Reports Earnings” with publication date: April 26, 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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