Sony Corporation (NYSE:SONY) Given Average Recommendation of “Buy” by Analysts

Shares of Sony Corporation (NYSE:SONY) have been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $33.00.

Several research firms recently weighed in on SONY. Weiss Ratings restated a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Wolfe Research raised Sony from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 5th. Cfra Research upgraded shares of Sony to a “moderate buy” rating in a research note on Friday, October 10th. Nomura Securities upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th.

Hedge Funds Weigh In On Sony

Several hedge funds and other institutional investors have recently bought and sold shares of SONY. Sound Income Strategies LLC purchased a new position in shares of Sony during the third quarter valued at approximately $25,000. Ameriflex Group Inc. grew its position in Sony by 304.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $29,000 after purchasing an additional 760 shares during the period. Binnacle Investments Inc raised its stake in Sony by 81.7% during the 3rd quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after buying an additional 464 shares during the last quarter. NewSquare Capital LLC bought a new position in shares of Sony during the 2nd quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Sony in the 3rd quarter worth $33,000. Institutional investors own 14.05% of the company’s stock.

Sony Stock Up 2.7%

SONY traded up $0.75 during midday trading on Friday, reaching $28.50. The company’s stock had a trading volume of 3,959,092 shares, compared to its average volume of 4,862,415. Sony has a 1 year low of $18.97 and a 1 year high of $30.34. The stock’s 50-day moving average is $28.92 and its 200-day moving average is $27.03. The firm has a market capitalization of $172.36 billion, a price-to-earnings ratio of 22.62 and a beta of 0.99. 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 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.