Zacks Research Upgrades Sumitomo (OTCMKTS:SSUMY) to “Hold”

Sumitomo (OTCMKTS:SSUMY) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Sumitomo Stock Down 3.7%

Shares of OTCMKTS SSUMY opened at $38.10 on Wednesday. The company has a 50 day simple moving average of $36.18 and a 200 day simple moving average of $31.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.57 and a quick ratio of 1.06. Sumitomo has a 1 year low of $19.18 and a 1 year high of $42.52. The firm has a market cap of $45.84 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.47 and a beta of 0.47.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.