Klabin (OTCMKTS:KLBAY) Lifted to Hold at Zacks Investment Research

Klabin (OTCMKTS:KLBAYGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Klabin is the biggest producer, exporter and recycler of paper in Brazil. Market leader in packaging paper and board, corrugated boxes and industrial sacks, it also produces and sells timber in logs. Today it has 17 industrial plants in Brazil, spread around eight states – and one in Argentina. It is organized in four business units – Forestry, Paper, Corrugated Packaging and Industrial Sacks. “

KLBAY opened at $8.04 on Wednesday. The stock has a fifty day moving average of $9.35 and a 200-day moving average of $9.16. Klabin has a 12-month low of $7.85 and a 12-month high of $11.04.

About Klabin (Get Rating)

Klabin SA, together with its subsidiaries, operates in the paper and pulp industry in Brazil and internationally. It operates through Forestry, Paper, Conversion, and Pulp segments. The Forestry segment engages in the planting and forestry operations of pine and eucalyptus; and sale of wood logs. The Paper segment produces and sells reels of cardboard, kraftliner, and recycled paper.

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