Stock Worth Watching: Is Buying All-time Stock Like Cognex Corporation a Winning Strategy?

Stock Worth Watching: Is Buying All time Stock Like Cognex Corporation a Winning Strategy?

The stock of Cognex Corporation (NASDAQ:CGNX) reached all time high today, Nov, 14 and still has $73.14 target or 28.00% above today’s $57.14 share price. This indicates more upside for the $5.03 billion company. This technical setup was reported by Barchart.com. If the $73.14 PT is reached, the company will be worth $1.41B 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 577,362 shares traded hands or 21.77% up from the average. Cognex Corporation (NASDAQ:CGNX) has risen 47.85% since April 12, 2016 and is uptrending. It has outperformed by 42.87% 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 company was maintained on Tuesday, November 3 by Canaccord Genuity. CLSA maintained it with “Underperform” rating and $55 target price in Tuesday, August 2 report. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Buy” rating by Canaccord Genuity on Wednesday, November 18. The rating was maintained by Canaccord Genuity on Friday, April 1 with “Buy”. The rating was downgraded by Credit Agricole to “Outperform” on Tuesday, November 3. As per Tuesday, November 1, the company rating was maintained by Needham. As per Friday, September 18, the company rating was initiated by Nomura. The company was initiated on Monday, June 6 by Bernstein. The company was initiated on Wednesday, May 11 by FBR Capital. As per Tuesday, June 14, the company rating was downgraded by Canaccord Genuity.

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 increased, 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.
Teachers holds 0.01% or 71,530 shares in its portfolio. Concert Wealth Management holds 9,064 shares or 0.05% of its portfolio. Tcw Group Inc, a California-based fund reported 28,329 shares. Blair William Il holds 11,442 shares or 0% of its portfolio. The Illinois-based Thomas Story Son Ltd Llc has invested 2.25% in Cognex Corporation (NASDAQ:CGNX). Harding Loevner L P has 3.00 million shares for 1.01% of their US portfolio. Axa accumulated 0.09% or 485,000 shares. Northern holds 0.01% of its portfolio in Cognex Corporation (NASDAQ:CGNX) for 947,123 shares. Nationwide Fund Advisors holds 586,582 shares or 0.11% of its portfolio. Snyder Cap Mngmt Lp last reported 471,674 shares in the company. Fred Alger Mgmt holds 0.09% or 379,729 shares in its portfolio. Ledyard National Bank & Trust has 0% invested in the company for 107 shares. Next Century Growth Investors Ltd Llc last reported 132,518 shares in the company. Rhumbline Advisers holds 0.02% of its portfolio in Cognex Corporation (NASDAQ:CGNX) for 155,581 shares. Federated Investors Pa accumulated 57,755 shares or 0.01% of the stock.

Insider Transactions: Since May 18, 2016, the stock had 0 insider purchases, and 11 selling transactions for $13.28 million net activity. Shares for $1.11 million were sold by MORIN RICHARD on Thursday, November 10. $1.00M worth of Cognex Corporation (NASDAQ:CGNX) shares were sold by KRANTZ THEODOR. 2,000 shares were bought by BANUCCI EUGENE G, worth $77,606. 20,000 shares were sold by miller jeffrey benjamin, worth $990,248 on Friday, August 5. 7,500 shares with value of $322,866 were sold by WASSERMAN REUBEN on Friday, May 27. Another trade for 7,500 shares valued at $363,550 was sold by ALIAS PATRICK. On Wednesday, August 3 Willett Robert sold $5.99 million worth of the stock or 125,000 shares.

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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