ValuEngine upgraded shares of Canon (NYSE:CAJ) from a hold rating to a buy rating in a report issued on Sunday.

Separately, Zacks Investment Research upgraded Canon from a hold rating to a buy rating and set a $39.00 price target for the company in a research note on Wednesday, September 20th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $40.00.

Shares of Canon (CAJ) traded up $0.18 during trading hours on Friday, reaching $37.58. The company’s stock had a trading volume of 172,500 shares, compared to its average volume of 162,100. The firm has a market capitalization of $49,720.00, a price-to-earnings ratio of 19.78, a PEG ratio of 2.92 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.03 and a quick ratio of 1.44. Canon has a 12 month low of $28.15 and a 12 month high of $39.15.

Large investors have recently made changes to their positions in the business. Sei Investments Co. increased its stake in Canon by 67.5% during the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock worth $161,000 after acquiring an additional 1,907 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Canon by 5.4% in the second quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock worth $175,000 after buying an additional 263 shares during the period. FDx Advisors Inc. purchased a new stake in shares of Canon in the third quarter worth about $236,000. Advisor Partners LLC purchased a new stake in shares of Canon in the third quarter worth about $250,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Canon in the second quarter worth about $276,000. Institutional investors own 1.27% of the company’s stock.

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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.

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

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