According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “
Several other analysts have also recently weighed in on CAJ. Credit Agricole SA cut Canon from a buy rating to an underperform rating in a report on Friday, July 15th. TheStreet raised Canon from a hold rating to a buy rating in a report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $33.00.
Shares of Canon (NYSE:CAJ) opened at 29.03 on Tuesday. The firm has a market capitalization of $31.70 billion, a PE ratio of 15.97 and a beta of 0.51. The firm has a 50-day moving average of $28.80 and a 200-day moving average of $28.79. Canon has a 1-year low of $26.60 and a 1-year high of $31.96.
Several hedge funds have recently made changes to their positions in the stock. 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 worth $288,000 after buying an additional 198 shares during the period. State Street Corp boosted its stake in Canon by 2.5% in the second quarter. State Street Corp now owns 12,370 shares of the company’s stock worth $354,000 after buying an additional 300 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Canon by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 38,886 shares of the company’s stock worth $1,113,000 after buying an additional 333 shares during the last quarter. Citigroup Inc. boosted its stake in Canon by 2.7% in the second quarter. Citigroup Inc. now owns 15,592 shares of the company’s stock worth $447,000 after buying an additional 415 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Canon by 10.7% in the second quarter. Signaturefd LLC now owns 4,394 shares of the company’s stock worth $126,000 after buying an additional 426 shares during the last quarter. 1.57% of the stock is owned by institutional investors.
Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. The Company operates in three segments: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit.
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