Canon Inc (NYSE:CAJ) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b” rating in a report issued on Thursday.

A number of other brokerages also recently weighed in on CAJ. CLSA upgraded Canon from an “underperform” rating to an “outperform” rating in a report on Friday, November 25th. JPMorgan Chase & Co. upgraded Canon from a “neutral” rating to an “overweight” rating in a report on Monday, March 6th. Finally, Zacks Investment Research upgraded Canon from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Wednesday, January 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.00.

Canon (NYSE:CAJ) traded up 0.48% during mid-day trading on Thursday, reaching $31.17. The company had a trading volume of 172,450 shares. Canon has a one year low of $27.18 and a one year high of $31.23. The stock has a 50 day moving average price of $29.51 and a 200 day moving average price of $28.99. The company has a market capitalization of $34.04 billion, a P/E ratio of 25.87 and a beta of 0.60.

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Hedge funds have recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of Canon by 3.8% in the third quarter. Aperio Group LLC now owns 1,999,435 shares of the company’s stock worth $58,044,000 after buying an additional 73,167 shares during the last quarter. Renaissance Technologies LLC increased 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 worth $29,474,000 after buying an additional 239,000 shares during the last quarter. US Bancorp DE increased its stake in shares of Canon by 16.9% in the second quarter. US Bancorp DE now owns 661,606 shares of the company’s stock worth $18,929,000 after buying an additional 95,561 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Canon by 21.4% in the third quarter. First Trust Advisors LP now owns 459,676 shares of the company’s stock worth $13,344,000 after buying an additional 81,144 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Canon by 24.0% in the fourth quarter. Bank of America Corp DE now owns 400,999 shares of the company’s stock worth $12,082,000 after buying an additional 77,621 shares during the last quarter. Hedge funds and other institutional investors own 1.49% of the company’s stock.

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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