Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Down – Should You Sell?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.87, but opened at $8.34. Rayonier Advanced Materials shares last traded at $8.3320, with a volume of 33,227 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RYAM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rayonier Advanced Materials has a consensus rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Stock Down 0.1%

The firm has a market capitalization of $572.23 million, a price-to-earnings ratio of -1.20 and a beta of 1.79. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 3.21. The firm has a 50 day moving average price of $10.04 and a two-hundred day moving average price of $8.21.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.60). The firm had revenue of $319.07 million during the quarter, compared to analyst estimates of $302.63 million. Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. On average, equities analysts expect that Rayonier Advanced Materials Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Hedge funds have recently modified their holdings of the stock. Tactive Advisors LLC lifted its position in Rayonier Advanced Materials by 18.0% during the 4th quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 2,032 shares in the last quarter. Deutsche Bank AG lifted its position in Rayonier Advanced Materials by 1.5% during the 4th quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company’s stock worth $895,000 after acquiring an additional 2,292 shares in the last quarter. Covestor Ltd lifted its position in Rayonier Advanced Materials by 46.7% during the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 3,636 shares in the last quarter. Barclays PLC lifted its position in Rayonier Advanced Materials by 4.5% during the 4th quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock worth $592,000 after acquiring an additional 4,348 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in Rayonier Advanced Materials by 19.1% during the 4th quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 4,438 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.