The stock of Cognex Corporation (NASDAQ:CGNX) reached all time high today, Sep, 30 and still has $70.11 target or 32.00% above today’s $53.11 share price. This indicates more upside for the $4.50B company. This technical setup was reported by Barchart.com. If the $70.11 PT is reached, the company will be worth $1.44B 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. About 42,477 shares traded hands. Cognex Corporation (NASDAQ:CGNX) has risen 41.23% since February 26, 2016 and is uptrending. It has outperformed by 30.80% 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 $38.98M for 28.86 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 9 analysts covering Cognex Corporation (NASDAQ:CGNX), 3 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 33% are positive. $55 is the highest target while $33 is the lowest. The $46.35 average target is -12.73% below today’s ($53.11) stock price. Cognex Corporation has been the topic of 19 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained Cognex Corporation (NASDAQ:CGNX) rating on Friday, April 1. Canaccord Genuity has “Buy” rating and $45 price target. The company was downgraded on Tuesday, June 14 by Canaccord Genuity. The stock has “Underperform” rating given by CSLA on Thursday, March 24. On Tuesday, November 3 the stock rating was maintained by Canaccord Genuity with “Hold”. As per Friday, September 18, the company rating was initiated by Nomura. The firm earned “Underperform” rating on Tuesday, August 2 by CLSA. Canaccord Genuity maintained the shares of CGNX in a report on Tuesday, August 2 with “Hold” rating. The stock of Cognex Corporation (NASDAQ:CGNX) has “Buy” rating given on Tuesday, August 4 by Needham. The stock of Cognex Corporation (NASDAQ:CGNX) has “Hold” rating given on Tuesday, August 4 by Canaccord Genuity. The rating was initiated by Bernstein on Monday, June 6 with “Market Perform”.
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 2016 Q2. 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.
Joho Capital Llc holds 18.08% of its portfolio in Cognex Corporation for 1.54 million shares. Brown Capital Management Llc owns 6.62 million shares or 4.51% of their US portfolio. Moreover, Tirschwell & Loewy Inc has 3.76% invested in the company for 498,320 shares. The Massachusetts-based Telemark Asset Management Llc has invested 2.48% in the stock. Thomas Story & Son Llc, a Illinois-based fund reported 84,225 shares.
Insider Transactions: Since January 1, 0001, the stock had 1 buying transaction, and 10 sales for $12.09 million net activity.
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: “3 Things to Look Out for When Cognex Corp. Reports Earnings” on July 29, 2016. More interesting news about Cognex Corporation (NASDAQ:CGNX) were released by: Fool.com and their article: “Cognex Corporation Repeats a Recurring Theme” published on February 11, 2016 as well as Fool.com‘s news article titled: “Cognex Corporation’s Earnings Promise Volatility” with publication date: February 08, 2016.
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