Canon Inc. (CAJ) Sees Strong Trading Volume
Canon Inc. (NYSE:CAJ) saw unusually-strong trading volume on Friday . Approximately 139,062 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 142,292 shares.The stock last traded at $28.86 and had previously closed at $28.73.
Several analysts have commented on CAJ shares. Zacks Investment Research cut shares of Canon from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 21st. TheStreet raised shares of Canon from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Finally, Credit Agricole SA lowered shares of Canon from a “buy” rating to an “underperform” rating in a report on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.00.
The firm has a market cap of $31.55 billion and a price-to-earnings ratio of 15.84. The firm’s 50-day moving average is $28.38 and its 200-day moving average is $28.82.
An institutional investor recently raised its position in Canon stock. US Bancorp DE raised its stake in shares of Canon Inc. (NYSE:CAJ) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 467,404 shares of the company’s stock after buying an additional 39,397 shares during the period. US Bancorp DE’s holdings in Canon were worth $14,082,000 as of its most recent SEC filing.
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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