Rayonier Advanced Materials (NYSE:RYAM) Shares Down 8.8% – What’s Next?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) traded down 8.8% during mid-day trading on Monday . The company traded as low as $8.15 and last traded at $8.2560. 173,267 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,045,674 shares. The stock had previously closed at $9.05.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

Rayonier Advanced Materials Stock Down 1.7%

The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a 50 day moving average price of $9.07 and a 200 day moving average price of $8.63. The company has a market cap of $543.57 million, a P/E ratio of -1.14 and a beta of 1.74.

Rayonier Advanced Materials (NYSE:RYAM) last announced 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 $319.06 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%. Research analysts expect that Rayonier Advanced Materials Inc. will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several large investors have recently made changes to their positions in RYAM. Osaic Holdings Inc. raised its holdings in shares of Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 7,031 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Rayonier Advanced Materials during the fourth quarter worth approximately $76,000. Tactive Advisors LLC grew its position in Rayonier Advanced Materials by 18.0% in the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after buying an additional 2,032 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Rayonier Advanced Materials in the fourth quarter worth approximately $86,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Rayonier Advanced Materials in the fourth quarter valued at $117,000. Institutional investors own 68.64% of the company’s stock.

About Rayonier Advanced Materials

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.