Canon (NYSE:CAJ) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Canon (NYSE:CAJGet Rating) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

Canon Price Performance

Canon stock opened at $24.32 on Wednesday. Canon has a 52-week low of $21.00 and a 52-week high of $25.77. The firm has a market capitalization of $25.43 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 11.36 and a beta of 0.42. The company has a fifty day simple moving average of $23.76 and a 200-day simple moving average of $23.90. The company has a quick ratio of 1.17, a current ratio of 1.84 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Canon

Hedge funds have recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Canon in the second quarter valued at about $4,289,000. First Horizon Advisors Inc. grew its holdings in shares of Canon by 59.0% in the fourth quarter. First Horizon Advisors Inc. now owns 1,178 shares of the technology company’s stock valued at $28,000 after purchasing an additional 437 shares during the period. Rosenberg Matthew Hamilton purchased a new stake in shares of Canon in the first quarter valued at about $37,000. Captrust Financial Advisors grew its holdings in shares of Canon by 59.7% in the first quarter. Captrust Financial Advisors now owns 1,530 shares of the technology company’s stock valued at $37,000 after purchasing an additional 572 shares during the period. Finally, Addison Advisors LLC purchased a new position in Canon during the first quarter worth about $65,000.

Canon Company Profile

(Get Rating)

Canon Inc, together with its subsidiaries, 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: Printing Business Unit, Imaging Business Unit, Medical Business Unit, and Industrial and Others Business Unit.

Recommended Stories

Want More Great Investing Ideas?

Receive News & Ratings for Canon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon and related companies with MarketBeat.com's FREE daily email newsletter.