Sappi (OTCMKTS:SPPJY) Shares Gap Up – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.50, but opened at $1.60. Sappi shares last traded at $1.60, with a volume of 2,001 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Sappi Stock Performance

The stock has a market cap of $895.84 million, a price-to-earnings ratio of -5.54, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.63. The stock’s 50-day moving average is $1.42 and its 200-day moving average is $1.52.

Sappi (OTCMKTS:SPPJY) last posted its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sappi had a negative net margin of 3.27% and a positive return on equity of 1.78%.

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.