Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Down – Should You Sell?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) gapped down prior to trading on Thursday . The stock had previously closed at $8.87, but opened at $8.34. Rayonier Advanced Materials shares last traded at $8.3320, with a volume of 33,227 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Tuesday, April 21st. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Royal Bank Of Canada increased their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Rayonier Advanced Materials Trading Down 0.1%

The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21. The company has a fifty day moving average of $10.04 and a two-hundred day moving average of $8.21. The stock has a market capitalization of $572.23 million, a price-to-earnings ratio of -1.20 and a beta of 1.79.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results 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). Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%.The company had revenue of $319.07 million for the quarter, compared to analyst estimates of $302.63 million. On average, research analysts expect that Rayonier Advanced Materials Inc. will post -0.96 EPS for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds have recently modified their holdings of the stock. Tactive Advisors LLC lifted its holdings in shares of Rayonier Advanced Materials by 18.0% during the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,032 shares during the period. Deutsche Bank AG raised its position in Rayonier Advanced Materials by 1.5% in the fourth quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company’s stock worth $895,000 after acquiring an additional 2,292 shares in the last quarter. Covestor Ltd raised its position in Rayonier Advanced Materials by 46.7% in the third quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 3,636 shares in the last quarter. Barclays PLC raised its position in Rayonier Advanced Materials by 4.5% in the fourth quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock worth $592,000 after acquiring an additional 4,348 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in Rayonier Advanced Materials by 19.1% in the fourth quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 4,438 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

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.