Rayonier Advanced Materials (NYSE:RYAM) Upgraded by Zacks Research to Hold Rating

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Rayonier Advanced Materials Stock Down 0.3%

Shares of NYSE RYAM opened at $6.01 on Tuesday. The stock has a market capitalization of $402.93 million, a PE ratio of -0.96 and a beta of 2.67. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 2.26. The stock’s fifty day simple moving average is $6.86 and its two-hundred day simple moving average is $5.18. Rayonier Advanced Materials has a 12-month low of $3.35 and a 12-month high of $9.79.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $353.00 million for the quarter, compared to the consensus estimate of $373.70 million. Rayonier Advanced Materials had a negative return on equity of 13.64% and a negative net margin of 28.21%. As a group, analysts expect that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in shares of Rayonier Advanced Materials by 57.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 651,776 shares of the basic materials company’s stock valued at $3,748,000 after purchasing an additional 238,998 shares during the last quarter. Strs Ohio purchased a new stake in shares of Rayonier Advanced Materials during the 1st quarter worth $551,000. Vanguard Group Inc. grew its stake in shares of Rayonier Advanced Materials by 1.6% during the first quarter. Vanguard Group Inc. now owns 3,794,079 shares of the basic materials company’s stock worth $21,816,000 after purchasing an additional 58,671 shares in the last quarter. American Century Companies Inc. increased its holdings in Rayonier Advanced Materials by 11.8% in the first quarter. American Century Companies Inc. now owns 2,425,104 shares of the basic materials company’s stock valued at $13,944,000 after buying an additional 255,784 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Rayonier Advanced Materials by 155.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 129,488 shares of the basic materials company’s stock valued at $745,000 after buying an additional 78,881 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

About Rayonier Advanced Materials

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.