Rayonier Advanced Materials (NYSE:RYAM) Raised to Hold at Zacks Research

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

RYAM has been the topic of a number of other research reports. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Royal Bank Of Canada reduced their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.00.

Rayonier Advanced Materials Stock Performance

Shares of RYAM opened at $9.17 on Wednesday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a 50-day moving average of $8.26 and a two-hundred day moving average of $8.99. The stock has a market cap of $618.63 million, a P/E ratio of -4.37 and a beta of 1.77. Rayonier Advanced Materials has a one year low of $4.01 and a one year high of $11.85.

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

Institutional Trading of Rayonier Advanced Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its position in Rayonier Advanced Materials by 754.4% during the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 7,031 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Rayonier Advanced Materials in the fourth quarter valued at approximately $76,000. Dynamic Technology Lab Private Ltd purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $86,000. Balyasny Asset Management L.P. purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Rayonier Advanced Materials by 39.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 5,721 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.

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.