Canon Inc. (CAJ) Shares Gap Up to $27.88
Canon Inc. (NYSE:CAJ)’s share price 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.
A number of research firms have issued reports on CAJ. Zacks Investment Research downgraded shares of Canon from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Credit Agricole SA cut 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. Canon has an average rating of “Hold” and an average price target of $33.00.
The company has a 50 day moving average price of $28.41 and a 200-day moving average price of $28.69. The firm has a market cap of $31.14 billion and a P/E ratio of 15.97.
Several large investors have added to or reduced their stakes in CAJ. Comerica Bank boosted 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 period. Dimensional Fund Advisors LP boosted its position in shares of 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, US Bancorp DE boosted its position in shares of 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.
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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