Sony (NYSE:SONY) Upgraded to “Buy” at Nomura

Sony (NYSE:SONY) was upgraded by stock analysts at Nomura from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other analysts have also commented on the stock. Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Wolfe Research upgraded shares of Sony from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Sony in a research report on Wednesday, October 8th. Finally, Cfra Research upgraded Sony to a “moderate buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $33.00.

Sony Stock Down 0.6%

Shares of NYSE SONY traded down $0.19 during mid-day trading on Wednesday, hitting $28.49. 3,121,967 shares of the stock traded hands, compared to its average volume of 4,852,175. The stock has a fifty day moving average price of $28.97 and a 200-day moving average price of $26.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market cap of $172.27 billion, a price-to-earnings ratio of 22.63 and a beta of 0.99. Sony has a 52 week low of $18.97 and a 52 week high of $30.34.

Hedge Funds Weigh In On Sony

Large investors have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in shares of Sony by 2.7% during the third quarter. Fisher Asset Management LLC now owns 104,644,526 shares of the company’s stock worth $3,128,924,000 after purchasing an additional 2,766,460 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in Sony in the 3rd quarter valued at about $277,631,000. Northern Trust Corp boosted its position in Sony by 3.4% in the 1st quarter. Northern Trust Corp now owns 7,845,521 shares of the company’s stock valued at $199,198,000 after buying an additional 257,838 shares during the period. Capital International Investors increased its position in shares of Sony by 245.0% during the third quarter. Capital International Investors now owns 6,049,618 shares of the company’s stock worth $176,044,000 after acquiring an additional 4,296,028 shares during the period. Finally, Capital World Investors raised its stake in shares of Sony by 0.4% during the third quarter. Capital World Investors now owns 5,001,748 shares of the company’s stock valued at $144,021,000 after acquiring an additional 20,960 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

About Sony

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.