Sappi (OTCMKTS:SPPJY) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Sappi (OTCMKTS:SPPJY) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Sappi Stock Down 6.9%

Sappi stock opened at $0.70 on Tuesday. Sappi has a fifty-two week low of $0.59 and a fifty-two week high of $1.78. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 1.35. The company has a market capitalization of $425.87 million, a P/E ratio of -0.63 and a beta of 0.59. The stock has a 50-day simple moving average of $0.73 and a 200-day simple moving average of $1.00.

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

Sappi Company Profile

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.