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

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Canon from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. TheStreet raised 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 given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Canon (NYSE:CAJ) traded up 0.1421% during midday trading on Friday, hitting $28.1199. The stock had a trading volume of 111,867 shares. Canon has a 52 week low of $26.60 and a 52 week high of $31.39. The stock’s 50 day moving average price is $28.61 and its 200-day moving average price is $28.59. The company has a market cap of $30.71 billion, a PE ratio of 19.1292 and a beta of 0.57.

A number of hedge funds have recently bought and sold shares of the stock. Boston Advisors LLC boosted its stake in shares of Canon by 0.4% in the third quarter. Boston Advisors LLC now owns 12,113 shares of the company’s stock valued at $352,000 after buying an additional 50 shares in the last quarter. 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. Ngam Advisors L.P. boosted its stake in shares of Canon by 0.4% in the third quarter. Ngam Advisors L.P. now owns 61,801 shares of the company’s stock valued at $1,794,000 after buying an additional 253 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. Finally, 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. 1.51% of the stock is currently owned by institutional investors and hedge funds.

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About Canon

Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.

5 Day Chart for NYSE:CAJ

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