Rayonier Advanced Materials (NYSE:RYAM) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Rayonier Advanced Materials (NYSE:RYAMFree Report) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $6.00.

View Our Latest Research Report on Rayonier Advanced Materials

Rayonier Advanced Materials Stock Up 0.7%

Rayonier Advanced Materials stock opened at $7.41 on Monday. Rayonier Advanced Materials has a one year low of $3.35 and a one year high of $10.28. The stock has a fifty day moving average of $6.21 and a 200 day moving average of $4.90. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45. The stock has a market cap of $496.14 million, a PE ratio of -1.11 and a beta of 2.64.

Rayonier Advanced Materials (NYSE:RYAMGet Free Report) last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%. The firm had revenue of $340.00 million for the quarter, compared to the consensus estimate of $387.07 million. As a group, sell-side analysts predict that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Delyle W. Bloomquist purchased 53,533 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $4.71 per share, for a total transaction of $252,140.43. Following the completion of the transaction, the chief executive officer directly owned 539,557 shares in the company, valued at $2,541,313.47. This trade represents a 11.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. New York State Teachers Retirement System purchased a new stake in Rayonier Advanced Materials in the 1st quarter worth $34,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Rayonier Advanced Materials by 57.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 651,776 shares of the basic materials company’s stock worth $3,748,000 after acquiring an additional 238,998 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Rayonier Advanced Materials by 13.2% in the first quarter. Assenagon Asset Management S.A. now owns 259,475 shares of the basic materials company’s stock worth $1,492,000 after acquiring an additional 30,282 shares during the period. Strs Ohio purchased a new stake in shares of Rayonier Advanced Materials during the first quarter worth about $551,000. Finally, Vanguard Group Inc. raised its stake in Rayonier Advanced Materials by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 3,794,079 shares of the basic materials company’s stock valued at $21,816,000 after purchasing an additional 58,671 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

About Rayonier Advanced Materials

(Get Free Report)

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.

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