Sappi (OTCMKTS:SPPJY) Shares Gap Up – Time to Buy?

Shares of Sappi Ltd. (OTCMKTS:SPPJY) gapped up before the market opened on Wednesday . The stock had previously closed at $1.06, but opened at $1.13. Sappi shares last traded at $1.13, with a volume of 2,000 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Sappi Stock Up 6.6%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 1.18. The company has a market cap of $683.18 million, a price-to-earnings ratio of -2.46 and a beta of 0.69. The stock’s fifty day moving average is $1.09 and its two-hundred day moving average is $1.29.

Sappi (OTCMKTS:SPPJY) last posted its earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Sappi had a negative net margin of 5.31% and a negative return on equity of 2.34%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion.

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.