Todays Report: Today, Canon Inc. (CAJ) Raised to Outperform at CLSA

Today, Canon Inc. (CAJ) Raised to Outperform at CLSA

Canon Inc. (NYSE:CAJ) was upgraded by stock analysts at CLSA from an “underperform” rating to an “outperform” rating in a note issued to investors on Friday.

A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Canon from a “hold” rating to a “sell” rating in a research note on Tuesday, November 15th. TheStreet upgraded shares of Canon from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. JPMorgan Chase & Co. cut shares of Canon from a “neutral” rating to an “underweight” rating in a research note on Wednesday, October 26th. Finally, Bank of America Corp. cut shares of Canon from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 27th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of Canon (NYSE:CAJ) traded up 0.1421% during trading on Friday, hitting $28.1199. 111,867 shares of the stock were exchanged. The firm has a market capitalization of $30.71 billion, a P/E ratio of 19.1292 and a beta of 0.57. Canon has a 52 week low of $26.60 and a 52 week high of $31.39. The firm has a 50 day moving average price of $28.61 and a 200 day moving average price of $28.59.

Hedge funds have recently modified their holdings of the company. Peak Asset Management LLC boosted its stake in shares of Canon by 1.3% in the second quarter. Peak Asset Management LLC now owns 70,197 shares of the company’s stock valued at $2,008,000 after buying an additional 880 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Canon by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 28,711 shares of the company’s stock valued at $821,000 after buying an additional 459 shares during the period. Signaturefd LLC boosted its stake in shares of Canon by 10.7% in the second quarter. Signaturefd LLC now owns 4,394 shares of the company’s stock valued at $126,000 after buying an additional 426 shares during the period. Conning Inc. acquired a new stake in shares of Canon during the second quarter valued at $3,615,000. Finally, Bank of Montreal Can acquired a new stake in shares of Canon during the second quarter valued at $793,000. Institutional investors and hedge funds own 1.51% of the company’s stock.

Canon Company Profile

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