Canon Inc. (CAJ) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “
A number of other research firms have also recently commented on CAJ. Credit Agricole SA cut shares of Canon from a buy rating to an underperform rating in a report on Friday, July 15th. TheStreet upgraded shares of Canon from a hold rating to a buy rating in a report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $33.00.
Canon (NYSE:CAJ) traded down 0.03% during trading on Tuesday, hitting $29.10. 19,752 shares of the company’s stock traded hands. The stock has a market cap of $31.78 billion, a P/E ratio of 16.18 and a beta of 0.50. The company’s 50 day moving average is $28.77 and its 200-day moving average is $28.79. Canon has a 12 month low of $26.60 and a 12 month high of $31.96.
Large investors have recently modified their holdings of the company. Checchi Capital Advisers LLC boosted its stake in shares of Canon by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 10,058 shares of the company’s stock valued at $288,000 after buying an additional 198 shares in the last quarter. State Street Corp boosted its stake in shares of Canon by 2.5% in the second quarter. State Street Corp now owns 12,370 shares of the company’s stock valued at $354,000 after buying an additional 300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Canon by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 38,886 shares of the company’s stock valued at $1,113,000 after buying an additional 333 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Canon by 2.7% in the second quarter. Citigroup Inc. now owns 15,592 shares of the company’s stock valued at $447,000 after buying an additional 415 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors own 1.57% of the company’s stock.
Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. The Company operates in three segments: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit.
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