Sony (NYSE:SONY) Rating Increased to Strong-Buy at Nomura Securities

Nomura Securities upgraded shares of Sony (NYSE:SONY) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

SONY has been the topic of a number of other reports. Cfra Research upgraded shares of Sony to a “moderate buy” rating in a research report on Friday, October 10th. Zacks Research raised shares of Sony from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Finally, Nomura upgraded Sony from a “neutral” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $33.00.

Sony Trading Down 2.7%

NYSE:SONY opened at $27.79 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Sony has a 1-year low of $18.97 and a 1-year high of $30.34. The firm has a market capitalization of $168.03 billion, a price-to-earnings ratio of 22.05 and a beta of 0.99. The business’s 50-day moving average price is $28.94 and its two-hundred day moving average price is $27.01.

Hedge Funds Weigh In On Sony

A number of large investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Sony in the third quarter valued at about $25,000. Ameriflex Group Inc. raised its position in Sony by 304.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $29,000 after buying an additional 760 shares during the last quarter. Binnacle Investments Inc lifted its stake in Sony by 81.7% in the 3rd quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after acquiring an additional 464 shares in the last quarter. NewSquare Capital LLC acquired a new position in Sony during the 2nd quarter worth approximately $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Sony during the 3rd quarter worth approximately $33,000. Institutional investors own 14.05% of the company’s stock.

About Sony

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.