Sumitomo (OTCMKTS:SSUMY) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Sumitomo (OTCMKTS:SSUMY) from a strong sell rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

Sumitomo Price Performance

Shares of SSUMY opened at $38.10 on Wednesday. Sumitomo has a fifty-two week low of $19.18 and a fifty-two week high of $42.52. The firm’s 50-day simple moving average is $36.18 and its two-hundred day simple moving average is $31.44. The stock 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57.

About Sumitomo

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.