Cognex (NASDAQ:CGNX) Downgraded by Cowen

Cowen lowered shares of Cognex (NASDAQ:CGNXGet Rating) from an outperform rating to a market perform rating in a research report released on Tuesday morning, MarketBeat Ratings reports. Cowen currently has $50.00 target price on the scientific and technical instruments company’s stock, down from their previous target price of $55.00.

Other equities analysts have also issued reports about the company. Raymond James cut their target price on Cognex from $75.00 to $65.00 in a report on Sunday, November 6th. Sanford C. Bernstein upgraded Cognex from a market perform rating to an outperform rating and set a $65.00 target price on the stock in a report on Wednesday, August 3rd. JPMorgan Chase & Co. lowered Cognex from a neutral rating to an underweight rating and set a $40.00 price objective on the stock. in a research note on Friday, August 12th. Daiwa Capital Markets dropped their price objective on Cognex to $54.00 in a research note on Tuesday, August 9th. Finally, began coverage on Cognex in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $52.92.

Cognex Price Performance

NASDAQ CGNX opened at $49.17 on Tuesday. Cognex has a fifty-two week low of $40.21 and a fifty-two week high of $80.30. The stock’s 50-day moving average is $45.09 and its two-hundred day moving average is $45.65. The firm has a market cap of $8.50 billion, a P/E ratio of 40.64 and a beta of 1.59.

Cognex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.57%. This is a positive change from Cognex’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, November 17th. Cognex’s payout ratio is currently 23.14%.

Institutional Investors Weigh In On Cognex

A number of institutional investors have recently added to or reduced their stakes in CGNX. Tobam acquired a new stake in Cognex during the second quarter valued at approximately $30,000. Pinnacle Financial Partners Inc. acquired a new stake in Cognex during the third quarter valued at approximately $48,000. Wipfli Financial Advisors LLC acquired a new stake in Cognex during the third quarter valued at approximately $48,000. Meeder Asset Management Inc. acquired a new stake in Cognex during the first quarter valued at approximately $51,000. Finally, Quadrant Capital Group LLC boosted its holdings in Cognex by 136.4% during the third quarter. Quadrant Capital Group LLC now owns 1,248 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 720 shares in the last quarter. 90.15% of the stock is owned by institutional investors and hedge funds.

Cognex Company Profile

(Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, 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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