Canon (CAJ) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Canon (NYSE:CAJ) from a buy rating to a hold rating in a research note published on Tuesday.
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. “
Canon (CAJ) opened at $38.61 on Tuesday. The company has a market cap of $42,000.93, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 3.31 and a beta of 0.47. 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 has a 12-month low of $27.76 and a 12-month high of $39.15.
Institutional investors have recently made changes to their positions in the business. Sei Investments Co. raised its position in Canon by 67.5% during the 2nd 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 during the last quarter. Advisor Group Inc. raised its position in Canon by 5.4% during the 2nd quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock worth $175,000 after buying an additional 263 shares during the last quarter. FDx Advisors Inc. purchased a new position in Canon during the 3rd quarter worth $236,000. Advisor Partners LLC purchased a new position in Canon during the 3rd quarter worth $250,000. Finally, Eagle Asset Management Inc. purchased a new position in Canon during the 2nd quarter worth $276,000. Institutional investors own 1.27% of the company’s stock.
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.
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