Rayonier Advanced Materials (NYSE:RYAM) Upgraded to “Hold” at Zacks Research

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.00.

Rayonier Advanced Materials Stock Down 5.1%

Rayonier Advanced Materials stock opened at $9.17 on Wednesday. Rayonier Advanced Materials has a 1-year low of $4.01 and a 1-year high of $11.85. The firm has a market capitalization of $618.63 million, a price-to-earnings ratio of -4.37 and a beta of 1.77. The firm’s fifty day moving average price is $8.26 and its two-hundred day moving average price is $8.99. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 3.82.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $376.14 million for the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.18%. On average, equities research analysts predict that Rayonier Advanced Materials will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Rayonier Advanced Materials by 38.0% during the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock valued at $6,718,000 after purchasing an additional 321,613 shares in the last quarter. Caxton Associates LLP purchased a new stake in Rayonier Advanced Materials in the 1st quarter valued at about $248,000. Empowered Funds LLC increased its stake in Rayonier Advanced Materials by 4.2% in the 1st quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock valued at $2,139,000 after buying an additional 15,071 shares during the last quarter. Geode Capital Management LLC increased its stake in Rayonier Advanced Materials by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after buying an additional 19,999 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Rayonier Advanced Materials by 923.8% during the 2nd quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock worth $535,000 after buying an additional 125,336 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

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.