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

StockNews.com cut shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a hold rating in a report released on Thursday morning.

Separately, Royal Bank of Canada lowered their target price on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th.

Rayonier Advanced Materials Price Performance

NYSE RYAM opened at $4.20 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The firm’s 50 day moving average price is $4.76 and its 200-day moving average price is $6.86. Rayonier Advanced Materials has a 52-week low of $3.45 and a 52-week high of $10.28. The company has a market cap of $280.12 million, a PE ratio of -3.28 and a beta of 2.63.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.35). The business had revenue of $356.00 million for the quarter, compared to the consensus estimate of $375.80 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. Sell-side analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in Rayonier Advanced Materials in the first quarter valued at approximately $34,000. Ieq Capital LLC purchased a new position in shares of Rayonier Advanced Materials in the fourth quarter worth $83,000. Entropy Technologies LP purchased a new position in shares of Rayonier Advanced Materials in the fourth quarter worth $84,000. Townsquare Capital LLC purchased a new position in shares of Rayonier Advanced Materials in the fourth quarter worth $85,000. Finally, Royce & Associates LP purchased a new position in shares of Rayonier Advanced Materials in the first quarter worth $103,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.