Sony Group Co. (NYSE:SONY) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Sony Group Co. (NYSE:SONY) have been assigned a consensus recommendation of “Buy” from the four brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $24.00.

A number of research analysts have recently issued reports on SONY shares. StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Cowen reduced their price objective on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Oppenheimer lowered their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th.

Institutional Investors Weigh In On Sony Group

Several hedge funds and other institutional investors have recently made changes to their positions in SONY. Private Advisor Group LLC increased its position in Sony Group by 8.1% in the second quarter. Private Advisor Group LLC now owns 5,932 shares of the company’s stock worth $504,000 after purchasing an additional 446 shares during the period. American Century Companies Inc. grew its position in shares of Sony Group by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 255,375 shares of the company’s stock worth $21,694,000 after buying an additional 18,597 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Sony Group during the second quarter worth approximately $10,347,000. Pekin Hardy Strauss Inc. lifted its holdings in Sony Group by 3.5% in the second quarter. Pekin Hardy Strauss Inc. now owns 73,639 shares of the company’s stock valued at $6,256,000 after buying an additional 2,510 shares during the period. Finally, Foresight Global Investors Inc. boosted its stake in Sony Group by 12.4% in the second quarter. Foresight Global Investors Inc. now owns 271,199 shares of the company’s stock valued at $23,038,000 after acquiring an additional 29,881 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Trading Down 1.7 %

Shares of Sony Group stock opened at $19.87 on Wednesday. Sony Group has a 12-month low of $15.02 and a 12-month high of $22.71. The stock has a market capitalization of $120.17 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 13.74 and a beta of 0.95. The company has a 50-day simple moving average of $20.34 and a 200 day simple moving average of $12.33. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

About Sony Group

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.