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

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

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

Rayonier Advanced Materials Stock Up 20.9 %

RYAM traded up $1.70 during trading on Wednesday, reaching $9.83. 2,372,579 shares of the stock traded hands, compared to its average volume of 535,354. The stock has a market cap of $647.70 million, a price-to-earnings ratio of -8.33 and a beta of 3.01. Rayonier Advanced Materials has a fifty-two week low of $2.91 and a fifty-two week high of $10.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09. The stock’s 50-day simple moving average is $8.09 and its two-hundred day simple moving average is $6.50.

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

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC grew its position in Rayonier Advanced Materials by 121.9% during the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,900 shares in the last quarter. Quarry LP acquired a new stake in Rayonier Advanced Materials during the second quarter valued at approximately $29,000. Mercer Global Advisors Inc. ADV acquired a new stake in Rayonier Advanced Materials during the second quarter valued at approximately $61,000. Truist Financial Corp acquired a new stake in Rayonier Advanced Materials during the second quarter valued at approximately $66,000. Finally, Rhumbline Advisers boosted its holdings in Rayonier Advanced Materials by 14.3% during the second quarter. Rhumbline Advisers now owns 149,490 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 18,754 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 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.