Cognex Corporation (CGNX) was Initiated by FBR Capital to “Mkt Perform” and the brokerage firm has set the Price Target at $42. FBR Capital advised their investors in a research report released on May 11, 2016.
Many Wall Street Analysts have commented on Cognex Corporation. Company shares were Reiterated by Canaccord Genuity on Apr 1, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .Cognex Corporation was Downgraded by Credit Agricole to ” Underperform” on Mar 24, 2016. Cognex Corporation was Downgraded by Raymond James to ” Mkt Perform” on Mar 11, 2016.
On the company’s financial health, Cognex Corporation reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.12. The company had revenue of $96.20 million for the quarter, compared to analysts expectations of $93.14 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.23 EPS.
Cognex Corporation opened for trading at $40.21 and hit $40.87 on the upside on Tuesday, eventually ending the session at $40.84, with a gain of 1.57% or 0.63 points. The heightened volatility saw the trading volume jump to 3,91,686 shares. Company has a market cap of $3,474 M.
In a different news, on Feb 16, 2016, Bruce Robinson J (director) purchased 1,000 shares at $34.19 per share price. According to the SEC, on Jun 17, 2015, Jeffrey Benjamin Miller (director) sold 20,000 shares at $49.55 per share price. On Jun 17, 2015, Reuben Wasserman (director) sold 7,500 shares at $49.41 per share price, according to the Form-4 filing with the securities and exchange commission.
Cognex Corporation is a provider of machine vision products that captures and analyzes visual information in order to automate tasks primarily in manufacturing processes. The Company operates in the modular vision systems division (MVSD). The Company’s products include barcode readers machine vision sensors and machine vision systems that are used in factories warehouses and distribution centers around the world. MVSD develops manufactures and markets modular vision systems and identification (ID) products that are used to automate the manufacture and tracking of discrete items such as cellular phones aspirin bottles and automobile wheels during the manufacturing or distribution process. The Company’s registered marks include Cognex VisionPro In-Sight Checker and DataMan among others.