Canon Inc. (CAJ) Shares Gap Up to $28.53
Canon Inc. (NYSE:CAJ) shares gapped up before the market opened on Wednesday . The stock had previously closed at $28.33, but opened at $28.53. Canon shares last traded at $28.84, with a volume of 77,061 shares.
CAJ has been the topic of several recent analyst reports. TheStreet raised Canon from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. Zacks Investment Research lowered Canon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Credit Agricole SA lowered Canon from a “buy” rating to an “underperform” rating in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.00.
The firm has a market capitalization of $31.72 billion, a P/E ratio of 16.30 and a beta of 0.50. The company has a 50-day moving average of $28.68 and a 200 day moving average of $28.81.
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Several large investors have recently made changes to their positions in CAJ. Renaissance Technologies LLC raised its stake in shares of Canon by 31.9% in the first quarter. Renaissance Technologies LLC now owns 988,400 shares of the company’s stock valued at $29,474,000 after buying an additional 239,000 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of Canon during the first quarter valued at approximately $5,393,000. Conning Inc. acquired a new stake in shares of Canon during the second quarter valued at approximately $3,615,000. Aperio Group LLC raised its stake in shares of Canon by 7.4% in the first quarter. Aperio Group LLC now owns 1,809,364 shares of the company’s stock valued at $53,955,000 after buying an additional 124,172 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Canon by 41.5% in the second quarter. First Trust Advisors LP now owns 378,532 shares of the company’s stock valued at $10,830,000 after buying an additional 111,081 shares during the last quarter. Institutional investors own 1.57% of the company’s stock.
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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