Canon (CAJ) Rating Increased to Buy at Zacks Investment Research

Canon (NYSE:CAJ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $44.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.51% from the stock’s current price.

According to Zacks, “Canon, Inc. is an industry leader in professional and consumer imaging equipment and information systems. Canon’s extensive product line enables businesses and consumers worldwide to capture, store and distribute visual information. Canon products include full-color as well as black and white copiers; color laser printers; facsimile machines; micrographics and optical disk filing systems; word processors, typewriters and calculators; camcorders, and lenses; semiconductor, broadcast and optical equipment; and other specialized industrial products. “

Separately, ValuEngine upgraded Canon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.00.

Canon (CAJ) traded up $0.49 during midday trading on Tuesday, reaching $39.46. The company had a trading volume of 309,100 shares, compared to its average volume of 247,936. The company has a market cap of $51,950.00, a price-to-earnings ratio of 20.55, a PEG ratio of 2.21 and a beta of 0.47. Canon has a 1-year low of $28.76 and a 1-year high of $39.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.03.

Canon (NYSE:CAJ) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.14. Canon had a return on equity of 7.70% and a net margin of 5.91%. research analysts anticipate that Canon will post 2.09 earnings per share for the current year.

A number of large investors have recently bought and sold shares of CAJ. Arrowstreet Capital Limited Partnership lifted its holdings in Canon by 44.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 512,602 shares of the technology company’s stock worth $17,439,000 after buying an additional 158,473 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Canon during the 3rd quarter worth $5,102,000. Parametric Portfolio Associates LLC lifted its holdings in Canon by 13.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 843,481 shares of the technology company’s stock worth $28,948,000 after buying an additional 97,986 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Canon by 15.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 348,220 shares of the technology company’s stock worth $11,847,000 after buying an additional 47,722 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in Canon during the 3rd quarter worth $1,453,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Canon (CAJ) Rating Increased to Buy at Zacks Investment Research” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/18/canon-caj-rating-increased-to-buy-at-zacks-investment-research.html.

Canon Company Profile

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.

Receive News & Ratings for Canon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply