Notable Downgrades: Cognex (CGNX), Nvidia (NVDA), Chesapeake Energy (CHK), Costco (COST)

Analysts at Credit Agricole downgraded Cognex Corporation (CGNX) from ‘Buy’ to ‘Outperform’ in a research report issued to clients on Tuesday.

On valuation measures, Cognex Corp. stock it’s trading at a forward P/E multiple of 22.84x, and at a multiple of 21.54x this year’s estimated earnings. The t-12-month revenue at Cognex is $557.88 million. CGNX ‘s ROE for the same period is 19.51%.

Shares of the $2.98 billion market cap company are down 3.61% year-over-year and 7.74% year-to-date.

Cognex Corp., currently with a median Wall Street price target of $47 and a high target of $55, dropped $3.75 to $34.25 in recent trading.

Nvidia Corporation (NVDA) was downgraded from ‘Buy’ to ‘Hold’ at Needham. The downgrade was based primarily on valuation as firm believes Nvidia’s investment thesis has largely played out and the stock’s pps has reacted accordingly, increasing more than than 60% since Aug/14.

Shares have traded today between $28.18 and $28.72 with the price of the stock fluctuating between $18.94 to $28.78 over the last 52 weeks.

Nvidia Corp. shares are currently changing hands at 30.16x this year’s forecasted earnings, compared to the industry’s 10.92x earnings multiple. Ticker has a t-12 price/sales ratio of 3.24. EPS for the same period registers at $0.94.

Shares of NVDA have lost $0.35 to $28.35 in mid-day trading on Tuesday, giving it a market cap of roughly $15.28 billion. The stock traded as high as $28.78 on Oct. 23, 2015.

Bernstein reported on Tuesday that they have lowered their rating for Chesapeake Energy Corporation (CHK). The firm has downgraded CHK from ‘Outperform’ to ‘Market Perform’.

Chesapeake Energy Corp. recently traded at $7.92, a gain of $0.47 over Monday’s closing price. The name has a current market capitalization of $5.25 billion.

Costco Wholesale Corporation (COST) had its rating lowered from ‘Buy’ to ‘Neutral’ by analysts at Northcoast on Tuesday.

COST was down $0.62 at $158.53 in mid-day trade, moving within a 52-week range of $117.03 to $159.40. The name, valued at $69.34 billion, opened at $158.40. Currently there are 17 analysts that rate COST a ‘Buy’ vs. 10 rating it a ‘Hold’. No analyst rates it a ‘Sell’.

On valuation measures, Costco Wholesale Corp. shares are currently priced at 29.52x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 0.60. EPS for the same period registers at $5.37.

As for passive income investors, the co. pays stockholders $1.60 per share annually in dividends, yielding 1.01%.

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