Canon (CAJ) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Canon (NYSE:CAJ) from a sell rating to a hold rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other equities research analysts also recently commented on CAJ. Zacks Investment Research downgraded shares of Canon from a hold rating to a sell rating in a research note on Tuesday, April 16th. Morgan Stanley upgraded shares of Canon from an equal weight rating to an overweight rating in a research note on Tuesday, April 16th. Finally, Goldman Sachs Group upgraded shares of Canon from a sell rating to a neutral rating in a research note on Thursday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold.

Shares of NYSE:CAJ opened at $28.59 on Wednesday. Canon has a 52 week low of $26.36 and a 52 week high of $34.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.92. The firm has a market capitalization of $30.51 billion, a PE ratio of 13.42, a PEG ratio of 3.82 and a beta of 0.56.

Several large investors have recently modified their holdings of the company. One Wealth Advisors LLC bought a new position in shares of Canon in the first quarter valued at about $84,000. Morgan Stanley raised its holdings in shares of Canon by 3.1% in the first quarter. Morgan Stanley now owns 138,090 shares of the technology company’s stock valued at $4,010,000 after buying an additional 4,192 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Canon by 3.2% in the first quarter. Advisors Asset Management Inc. now owns 79,739 shares of the technology company’s stock valued at $2,316,000 after buying an additional 2,436 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Canon by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 431,615 shares of the technology company’s stock valued at $12,534,000 after buying an additional 29,631 shares during the last quarter. Finally, Jefferies Group LLC bought a new position in shares of Canon in the first quarter valued at about $393,000. Institutional investors own 1.18% of the company’s stock.

Canon Company Profile

Canon Inc manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates through four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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