StockNews.com Downgrades Rayonier Advanced Materials (NYSE:RYAM) to Hold

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

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 on the stock in a report on Thursday, May 8th.

Rayonier Advanced Materials Price Performance

Shares of NYSE RYAM opened at $3.97 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The business has a 50-day moving average of $4.82 and a 200-day moving average of $6.92. The stock has a market capitalization of $265.10 million, a price-to-earnings ratio of -3.10 and a beta of 2.63. Rayonier Advanced Materials has a fifty-two week low of $3.45 and a fifty-two week high of $10.28.

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

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds have recently bought and sold shares of RYAM. New York State Teachers Retirement System acquired a new position in Rayonier Advanced Materials during the first quarter worth approximately $34,000. Ieq Capital LLC bought a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $83,000. Entropy Technologies LP bought a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $84,000. Townsquare Capital LLC acquired a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $85,000. Finally, Royce & Associates LP bought a new stake in Rayonier Advanced Materials in the 1st quarter valued at $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.