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

Separately, Zacks Investment Research upgraded shares of Canon from a hold rating to a strong-buy rating and set a $40.00 price target on the stock in a research note on Monday, October 9th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $40.00.

Canon (CAJ) opened at $37.40 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.03. The company has a market cap of $40,843.34, a P/E ratio of 20.78, a P/E/G ratio of 3.22 and a beta of 0.48. Canon has a 52 week low of $28.06 and a 52 week high of $39.15.

A number of institutional investors have recently modified their holdings of CAJ. Sei Investments Co. increased its stake in Canon by 67.5% during the 2nd quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock valued at $161,000 after purchasing an additional 1,907 shares in the last quarter. Advisor Group Inc. increased its stake in Canon by 5.4% during the 2nd quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock valued at $175,000 after purchasing an additional 263 shares in the last quarter. FDx Advisors Inc. acquired a new position in Canon during the 3rd quarter valued at approximately $236,000. Advisor Partners LLC acquired a new position in Canon during the 3rd quarter valued at approximately $250,000. Finally, Eagle Asset Management Inc. acquired a new position in Canon during the 2nd quarter valued at approximately $276,000. Institutional investors and hedge funds 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.

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