Sumitomo (OTCMKTS:SSUMY) Upgraded at Zacks Research

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

Sumitomo Price Performance

Shares of OTCMKTS:SSUMY opened at $40.19 on Wednesday. Sumitomo has a 12 month low of $19.18 and a 12 month high of $42.52. The firm has a market capitalization of $48.36 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.47. The business’s 50 day simple moving average is $36.35 and its 200-day simple moving average is $31.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.57 and a quick ratio of 1.06.

Sumitomo Company Profile

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.