Zacks Research Upgrades Sappi (OTCMKTS:SPPJY) to “Hold”

Sappi (OTCMKTS:SPPJY) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Sappi Stock Performance

OTCMKTS SPPJY traded up $0.07 during trading hours on Monday, hitting $1.13. 2,000 shares of the stock were exchanged, compared to its average volume of 6,271. The company has a market cap of $683.18 million, a price-to-earnings ratio of -2.46 and a beta of 0.69. Sappi has a 12-month low of $0.90 and a 12-month high of $2.25. The stock has a 50-day moving average of $1.09 and a 200 day moving average of $1.29. The company has a quick ratio of 0.55, a current ratio of 1.18 and a debt-to-equity ratio of 0.65.

Sappi (OTCMKTS:SPPJY) last posted its quarterly earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sappi had a negative net margin of 5.31% and a negative return on equity of 2.34%.

About Sappi

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.