Rayonier Advanced Materials Inc (NYSE:RYAM) shot up 6.9% during trading on Tuesday . The company traded as high as $4.57 and last traded at $4.51, 452,069 shares traded hands during trading. A decline of 49% from the average session volume of 892,387 shares. The stock had previously closed at $4.22.
A number of research firms have recently commented on RYAM. Berenberg Bank cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $5.00 in a research note on Wednesday, October 16th. Zacks Investment Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Sidoti cut Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada set a $10.00 target price on Rayonier Advanced Materials and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Rayonier Advanced Materials presently has a consensus rating of “Hold” and an average target price of $11.00.
The company has a market capitalization of $200.40 million, a P/E ratio of 2.67 and a beta of 3.75. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.09 and a current ratio of 2.00. The stock has a 50 day moving average price of $4.21 and a 200 day moving average price of $6.84.
Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.17). The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $497.01 million. Rayonier Advanced Materials had a return on equity of 1.70% and a net margin of 0.69%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, sell-side analysts expect that Rayonier Advanced Materials Inc will post -0.95 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Denali Advisors LLC acquired a new position in Rayonier Advanced Materials in the 2nd quarter worth approximately $78,000. WINTON GROUP Ltd purchased a new stake in Rayonier Advanced Materials in the 2nd quarter worth approximately $708,000. First Citizens Bank & Trust Co. purchased a new stake in Rayonier Advanced Materials in the 2nd quarter worth approximately $73,000. Nisa Investment Advisors LLC lifted its position in Rayonier Advanced Materials by 3,636.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,330 shares of the basic materials company’s stock worth $80,000 after buying an additional 12,000 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in Rayonier Advanced Materials by 88.6% in the 2nd quarter. First Hawaiian Bank now owns 23,730 shares of the basic materials company’s stock worth $154,000 after buying an additional 11,150 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.
Rayonier Advanced Materials Company Profile (NYSE:RYAM)
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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