Rayonier Advanced Materials (NYSE:RYAM) Downgraded to “Hold” Rating by StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Royal Bank of Canada lifted their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th.

Rayonier Advanced Materials Trading Up 1.7 %

Shares of Rayonier Advanced Materials stock opened at $10.00 on Wednesday. The business has a fifty day simple moving average of $8.14 and a 200-day simple moving average of $6.53. Rayonier Advanced Materials has a fifty-two week low of $2.98 and a fifty-two week high of $10.24. The firm has a market cap of $658.90 million, a price-to-earnings ratio of -8.47 and a beta of 3.01. The company has a quick ratio of 1.09, a current ratio of 1.69 and a debt-to-equity ratio of 1.00.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.06. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same period last year, the company posted ($0.41) earnings per share. On average, equities analysts forecast that Rayonier Advanced Materials will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in shares of Rayonier Advanced Materials during the third quarter worth about $166,000. Empowered Funds LLC lifted its position in shares of Rayonier Advanced Materials by 21.9% in the third quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock valued at $2,907,000 after buying an additional 61,054 shares during the last quarter. Semanteon Capital Management LP acquired a new position in shares of Rayonier Advanced Materials in the third quarter valued at approximately $601,000. Assenagon Asset Management S.A. raised its position in shares of Rayonier Advanced Materials by 226.8% in the third quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock valued at $2,782,000 after buying an additional 225,575 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of Rayonier Advanced Materials by 121.9% in the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 3,900 shares in the last quarter. Institutional investors 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.