Cognex logged a -4.7% change during today's afternoon session, and is now trading at a price of $50.7 per share. The S&P 500 index moved 0.0% and the Nasdaq posted a 0.2% change. CGNX's trading volume is 550,555 compared to the stock's average volume of 835,316.
Cognex shares moved -22.9% over the last 52 weeks, with a high of $80.3 and a low of $40.21. During this time, the stock lagged the S&P 500 index by -10.2%. As of January 2022, the company's 50-day average price is $48.7884. Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. The mid-cap Technology company has 2,257 full time employees and is based in Natick, MA. Cognex has returned a 0.5% dividend yield over the last 12 months.
Snapshot of the Company's Decent Operating Margins with a Positive Growth Rate:
| 2019-12-31 | 2020-12-31 | 2021-12-31 | |
|---|---|---|---|
| Revenue (MM) | $726 | $811 | $1,037 |
| Revenue Growth | n/a | 11.77% | 27.88% |
| Gross Margins | 73.8% | 74.6% | 73.3% |
| Gross Margins Growth | n/a | 1.08% | -1.74% |
| Operating Margins | 19.6% | 25.4% | 30.4% |
| Operating Margins Growth | n/a | 29.59% | 19.69% |
| Earnings Per Share | $1.16 | $1.0 | $1.56 |
| EPS Growth | n/a | -13.79% | 56.0% |
| Free Cash Flow (MM) | $231 | $229 | $299 |
| FCF Growth | n/a | -1.03% | 30.34% |
| Capital Expenditures (MM) | -$22 | -$13 | -$15 |
| Net Debt / EBITDA | -1.03 | -0.97 | -0.49 |
Cognex Is Expensive:
Compared to the Technology sector's average of 26.5, Cognex has a trailing twelve month P/E ratio of 41.9 and, according to its EPS guidance of 1.45, an expected P/E ratio of 35.0. Cognex's PEG ratio is 3.59 based on its 11.67% average growth rate of historical and projected earnings per share. This suggests that the company's shares are overvalued.
Cognex's P/B ratio is 6.3 compared to its sector average of 5.57, meaning that the company is likely overvalued in terms of its equity. The company's shares are currently trading 238.7% above their fair value as expressed by Benjamin Graham's formula:
√(22.5 * 3-year average EPS * book value per share) = √(22.5 * 1.24 * 8.033) = $14.97
Cognex Is the Subject of Mixed Market Indicators:
16 analysts are following Cognex and have set target prices ranging from $40 to $65 per share. On average, they have given the company a rating of hold. At the current price of $50.7, CGNX is trading -0.47% away from its average analyst target price of $50.94 per share, implying an analyst consensus of some upside potential for the stock.
The company has an average amount of shares sold short since 3.2% of the company's shares are tied to short positions. Institutions own 93.9% of Cognex's shares, while the insider ownership rate stands at 3.49%. The biggest shareholder is Blackrock Inc. with a 10% stake in the company worth approximately $836,415,556.
