TheStreet upgraded shares of Canon Inc (NYSE:CAJ) from a c+ rating to a b rating in a report published on Thursday.

Several other brokerages have also recently issued reports on CAJ. CLSA raised Canon from an underperform rating to an outperform rating in a research report on Friday, November 25th. JPMorgan Chase & Co. raised Canon from a neutral rating to an overweight rating in a research report on Monday, March 6th. Finally, Zacks Investment Research raised Canon from a hold rating to a strong-buy rating and set a $33.00 target price on the stock in a research report on Wednesday, January 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $33.00.

Shares of Canon (NYSE:CAJ) opened at 31.16 on Thursday. The company has a market cap of $34.03 billion, a price-to-earnings ratio of 25.86 and a beta of 0.60. Canon has a 12-month low of $27.18 and a 12-month high of $31.28. The firm’s 50-day moving average price is $29.51 and its 200 day moving average price is $28.99.

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Hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its stake in shares of Canon by 21.4% in the third quarter. First Trust Advisors LP now owns 459,676 shares of the company’s stock valued at $13,344,000 after buying an additional 81,144 shares in the last quarter. Aperio Group LLC raised its stake in shares of Canon by 3.8% in the third quarter. Aperio Group LLC now owns 1,999,435 shares of the company’s stock valued at $58,044,000 after buying an additional 73,167 shares in the last quarter. Martin Investment Management LLC raised its stake in shares of Canon by 15.3% in the third quarter. Martin Investment Management LLC now owns 215,564 shares of the company’s stock valued at $6,258,000 after buying an additional 28,525 shares in the last quarter. LSV Asset Management raised its stake in shares of Canon by 15.8% in the third quarter. LSV Asset Management now owns 285,900 shares of the company’s stock valued at $8,299,000 after buying an additional 39,000 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of Canon by 8.1% in the third quarter. World Asset Management Inc now owns 89,199 shares of the company’s stock valued at $2,589,000 after buying an additional 6,647 shares in the last quarter. Hedge funds and other institutional investors own 1.49% of the company’s stock.

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.

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