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 research report issued to clients and investors on Tuesday,Zacks.com reports.

Sappi Trading Down 6.9%

Shares of Sappi stock opened at $0.70 on Tuesday. The firm has a market cap of $425.87 million, a price-to-earnings ratio of -0.63 and a beta of 0.59. The business has a 50-day moving average price of $0.73 and a 200-day moving average price of $1.00. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. Sappi has a twelve month low of $0.59 and a twelve month high of $1.78.

Sappi (OTCMKTS:SPPJY) last posted its earnings results on Thursday, May 7th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Sappi had a negative return on equity of 4.85% and a negative net margin of 12.70%.The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Equities research analysts anticipate that Sappi will post -0.19 EPS for the current fiscal year.

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.