Bernstein Initiates Coverage on Cognex Corporation to Market Perform

Bernstein Initiates Coverage on Cognex Corporation(NASDAQ:CGNX). The shares have been rated Market Perform. The rating by Bernstein was issued on Jun 6, 2016.

In a different note, FBR Capital said it Initiates Coverage on Cognex Corporation, according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm. On Apr 1, 2016, Canaccord Genuity said it Maintains its rating on Cognex Corporation. In the research note, the firm Raises the price-target to $42.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 24, 2016, CSLA said it Downgrades its rating on Cognex Corporation. The shares have been rated ‘Underperform’ by the firm. On Mar 11, 2016, Raymond James said it Downgrades its rating on Cognex Corporation. The shares have been rated ‘Market Perform’ by the firm.

Cognex Corporation (CGNX) shares turned negative on Fridays trading session with the shares closing down -0.81 points or -1.81% at a volume of 1,79,042. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.4464. The peak price level was also seen at $44.4464 while the days lowest was $43.74. Finally the shares closed at $43.88. The 52-week high of the shares is $51.33 while the 52-week low is $28.01. According to the latest information available, the market cap of the company is $3,732 M.

Cognex Corporation(CGNX) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $96.20M. Analysts had an estimated revenue of $93.13M. Earnings per share were $0.17. Analysts had estimated an EPS of $0.11.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Reuben Wasserman (director) sold 7,500 shares at $43.05 per share price.Also, On May 18, 2016, Eugene G Banucci (director) purchased 2,000 shares at $38.80 per share price.On Feb 16, 2016, Bruce Robinson J (director) purchased 1,000 shares at $34.19 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.

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