Sappi Limited (NYSE:SPP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, May 4th. The firm presently has a $16.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.74% from the company’s current price.
According to Zacks, “Sanchez Production Partners LP is focused on the acquisition, development and production of oil and natural gas properties and other integrated assets. The company’s reserve primarily located in the Cherokee Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma Basin in Oklahoma, the Central Kansas Uplift in Kansas ,Texas and Louisiana. Sanchez Production Partners LP, formerly known as Sanchez Production Partners LLC, is headquartered in Houston, Texas. “
Other research analysts also recently issued reports about the company. Royal Bank of Canada reissued a “buy” rating and issued a $18.00 price objective on shares of Sappi Limited in a research note on Friday, April 7th. Citigroup Inc assumed coverage on Sappi Limited in a research note on Thursday, January 12th. They issued a “neutral” rating and a $13.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $15.50.
Sappi Limited (NYSE:SPP) traded up 5.69% during mid-day trading on Thursday, hitting $14.85. 89,711 shares of the stock traded hands. The company’s 50 day moving average price is $14.47 and its 200-day moving average price is $13.33. Sappi Limited has a 1-year low of $9.51 and a 1-year high of $15.92. The stock’s market cap is $196.44 million.
The company also recently declared a dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd will be given a dividend of $0.4375 per share. This is a positive change from Sappi Limited’s previous dividend of $0.43. The ex-dividend date is Thursday, May 18th.
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In other news, CEO Gerald F. Willinger sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $13.92, for a total value of $62,640.00. Following the transaction, the chief executive officer now owns 192,055 shares of the company’s stock, valued at $2,673,405.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerald F. Willinger sold 2,722 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $13.92, for a total value of $37,890.24. Following the completion of the transaction, the chief executive officer now directly owns 192,055 shares in the company, valued at approximately $2,673,405.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,222 shares of company stock worth $857,610.
An institutional investor recently raised its position in Sappi Limited stock. Parkwood LLC boosted its position in Sappi Limited (NYSE:SPP) by 82.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,933 shares of the company’s stock after buying an additional 26,660 shares during the period. Parkwood LLC owned about 0.45% of Sappi Limited worth $925,000 at the end of the most recent reporting period.
Sappi Limited Company Profile
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