Weakness seen in Cognex (CGNX): Stock Tumbles 8.2%

Zacks

Cognex Corporation (CGNX) saw a big move last session, as the company’s shares fell over 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the most recent uptrend for CGNX, as the stock is now up over 6% since Feb 5.

This Scientific & Technical Instruments company has seen a flat track record when it comes to current year estimate revisions, as there has been only one negative revision in the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

CGNX currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

Investors interested in the  Electrical Test Equipment industry may consider a better-ranked stock like Ametek Inc. (AME) which holds a Zacks Rank #2 (Buy).

Some better-ranked stocks in the technology sector include Autodesk, Inc. (ADSK) and Akamai Technologies, Inc. (AKAM), both carrying a Zacks Rank #1 (Strong Buy).

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COGNEX CP (CGNX): Free Stock Analysis Report

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