StockNews.com Downgrades Rayonier Advanced Materials (NYSE:RYAM) to Hold

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

Separately, Royal Bank of Canada boosted their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

Shares of Rayonier Advanced Materials stock opened at $8.54 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $7.23. The stock has a market capitalization of $562.96 million, a price-to-earnings ratio of -6.67 and a beta of 3.01. Rayonier Advanced Materials has a 1-year low of $3.15 and a 1-year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period last year, the business posted ($0.41) earnings per share. On average, sell-side analysts expect that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV bought a new stake in Rayonier Advanced Materials in the 2nd quarter valued at $61,000. nVerses Capital LLC raised its stake 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 buying an additional 3,900 shares in the last quarter. Truist Financial Corp bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth about $66,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter valued at about $139,000. 68.64% of the stock is owned by institutional investors and hedge funds.

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.