Sony (NYSE:SONY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sony (NYSE:SONY) to a hold rating in a research note released on Saturday.

A number of other brokerages also recently weighed in on SONY. Nomura Securities raised shares of Sony from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. Nomura raised shares of Sony from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 19th. Cfra Research upgraded shares of Sony to a “moderate buy” rating in a report on Friday, October 10th. Finally, Wolfe Research raised Sony from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $33.00.

Sony Trading Down 1.7%

Shares of Sony stock opened at $27.57 on Friday. The business has a fifty day simple moving average of $28.73 and a 200-day simple moving average of $27.35. Sony has a fifty-two week low of $19.85 and a fifty-two week high of $30.34. The firm has a market cap of $166.70 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 10.74 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Sony

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Sony by 14.7% during the 3rd quarter. Allworth Financial LP now owns 14,156 shares of the company’s stock valued at $408,000 after buying an additional 1,812 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Sony by 4.9% during the third quarter. CIBC Private Wealth Group LLC now owns 1,762,209 shares of the company’s stock valued at $50,734,000 after purchasing an additional 81,525 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Sony in the 3rd quarter worth approximately $50,560,000. Ovata Capital Management Ltd acquired a new position in Sony during the third quarter worth $777,000. Finally, Centaurus Financial Inc. increased its holdings in shares of Sony by 13.7% during the third quarter. Centaurus Financial Inc. now owns 5,254 shares of the company’s stock worth $151,000 after buying an additional 632 shares in the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.