Zacks Investment Research downgraded shares of Sappi Ltd. (OTCMKTS:SPPJY) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “SAPPI LTD -ADR is the world ‘s leading producer of coated fine paper. They hold major market shares in Europe, North America and Africa. They have customers in over 100 countries worldwide. Their manufacturing operations span eight countries on three continents. “

Shares of Sappi (OTCMKTS:SPPJY) remained flat at $5.10 on Thursday. The stock had a trading volume of 101 shares. Sappi has a 1-year low of $3.46 and a 1-year high of $5.29. The company’s 50-day moving average is $5.00 and its 200-day moving average is $4.66. The firm has a market capitalization of $2.70 billion, a P/E ratio of 9.62 and a beta of 0.88.

About Sappi

Sappi Limited (Sappi) is focused on providing dissolving wood pulp, paper pulp and paper-based solutions to its direct and indirect customer base. The Company’s range of paper products includes coated fine papers used by printers, publishers and corporate end-users in the production of books, brochures, magazines, catalogues, direct mail and many other print applications; casting release papers used by suppliers to the fashion, textiles, automobile and household industries, and newsprint, uncoated graphic and business papers and packaging papers and tissue products in the Southern Africa region.

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