BidaskClub cut shares of Canon, Inc. (NYSE:CAJ) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Separately, Zacks Investment Research lowered shares of Canon from a buy rating to a hold rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $36.00.

Shares of Canon (NYSE:CAJ) opened at 34.85 on Wednesday. The company has a market cap of $37.63 billion, a PE ratio of 21.63 and a beta of 0.41. Canon has a one year low of $27.76 and a one year high of $35.91. The company’s 50-day moving average price is $34.51 and its 200 day moving average price is $32.87.

Canon (NYSE:CAJ) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. Canon had a net margin of 5.17% and a return on equity of 6.48%. The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $9.40 billion. Equities analysts forecast that Canon will post $1.65 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC raised its stake in Canon by 301.8% in the first quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock worth $111,000 after buying an additional 2,460 shares in the last quarter. Sei Investments Co. raised its stake in Canon by 67.5% in the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock worth $161,000 after buying an additional 1,907 shares in the last quarter. Advisor Group Inc. raised its stake in Canon by 5.4% in the second quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock worth $175,000 after buying an additional 263 shares in the last quarter. Jarislowsky Fraser Ltd purchased a new stake in Canon during the second quarter worth approximately $204,000. Finally, Eqis Capital Management Inc. purchased a new stake in Canon during the second quarter worth approximately $233,000. 1.40% of the stock is currently owned by institutional investors.

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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