Rayonier Advanced Materials (NYSE:RYAM) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other research firms also recently weighed in on RYAM. Zacks Investment Research downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Berenberg Bank assumed coverage on Rayonier Advanced Materials in a research report on Thursday, July 12th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Bank of America cut their target price on Rayonier Advanced Materials from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.25.

Shares of NYSE RYAM traded down $0.66 during trading hours on Wednesday, hitting $13.99. 1,508,100 shares of the company traded hands, compared to its average volume of 845,721. The company has a market cap of $943.86 million, a P/E ratio of 14.42, a P/E/G ratio of 0.39 and a beta of 3.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.15 and a current ratio of 2.17. Rayonier Advanced Materials has a 12 month low of $13.31 and a 12 month high of $22.96.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.07. The firm had revenue of $542.00 million for the quarter, compared to the consensus estimate of $544.22 million. Rayonier Advanced Materials had a return on equity of 17.08% and a net margin of 23.97%. The company’s revenue for the quarter was up 169.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. As a group, equities analysts predict that Rayonier Advanced Materials will post 2.17 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sigma Planning Corp bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at $178,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at $188,000. Oppenheimer Asset Management Inc. bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at $200,000. Point72 Hong Kong Ltd bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at $203,000. Finally, United Services Automobile Association bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at $205,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier Advanced Materials

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

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