Canon Inc. (NYSE:CAJ) gapped up before the market opened on Thursday . The stock had previously closed at $27.57, but opened at $27.88. Canon shares last traded at $28.24, with a volume of 60,942 shares.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Canon from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Credit Agricole SA lowered shares of Canon from a “buy” rating to an “underperform” rating in a research note on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.00.

The company has a 50-day moving average of $28.42 and a 200-day moving average of $28.70. The firm has a market capitalization of $30.86 billion and a P/E ratio of 16.21.

A number of large investors have bought and sold shares of the company. US Bancorp DE raised its stake in Canon by 9.2% in the fourth quarter. US Bancorp DE now owns 467,404 shares of the company’s stock valued at $14,082,000 after buying an additional 39,397 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Canon by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 178,322 shares of the company’s stock valued at $5,373,000 after buying an additional 4,321 shares during the last quarter. Finally, Comerica Bank raised its stake in Canon by 3.8% in the fourth quarter. Comerica Bank now owns 73,030 shares of the company’s stock valued at $2,048,000 after buying an additional 2,653 shares during the last quarter.

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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