Sappi (OTCMKTS:SPPJY) Shares Gap Up – Still a Buy?

Sappi Ltd. (OTCMKTS:SPPJY) shares gapped up before the market opened on Monday . The stock had previously closed at $1.35, but opened at $1.49. Sappi shares last traded at $1.49, with a volume of 100 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised Sappi from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Sappi Trading Up 15.9%

The business has a 50 day moving average of $1.40 and a 200-day moving average of $1.54. The stock has a market cap of $755.86 million, a PE ratio of -5.59, a price-to-earnings-growth ratio of 0.17 and a beta of 0.61. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.67.

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

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.