Rayonier Advanced Materials (NYSE:RYAM) Rating Lowered to “Hold” at StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Separately, Royal Bank of Canada increased their target price on Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th.

Rayonier Advanced Materials Price Performance

Shares of NYSE RYAM traded up $1.70 during trading on Wednesday, reaching $9.83. The company had a trading volume of 2,372,579 shares, compared to its average volume of 535,354. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. Rayonier Advanced Materials has a twelve month low of $2.91 and a twelve month high of $10.17. The stock has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $6.50. The stock has a market capitalization of $647.70 million, a PE ratio of -8.33 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. During the same period in the prior year, the business earned ($0.41) earnings per share. As a group, sell-side analysts predict that Rayonier Advanced Materials will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RYAM. Quarry LP acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth $61,000. nVerses Capital LLC boosted its stake in shares of Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 3,900 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth $66,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Rayonier Advanced Materials in the first quarter worth $100,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.