Rayonier Advanced Materials (NYSE:RYAM) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Rayonier Advanced Materials has an average rating of “Reduce” and a consensus price target of $14.00.

Rayonier Advanced Materials Stock Up 2.1%

Shares of RYAM stock opened at $7.25 on Tuesday. The company has a market capitalization of $488.67 million, a price-to-earnings ratio of -1.03 and a beta of 1.78. Rayonier Advanced Materials has a one year low of $3.35 and a one year high of $11.85. The company’s fifty day moving average price is $8.60 and its 200-day moving average price is $8.75. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.60). The firm had revenue of $319.06 million during the quarter, compared to the consensus estimate of $302.63 million. Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%. Sell-side analysts expect that Rayonier Advanced Materials will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors have recently bought and sold shares of RYAM. Hudson Bay Capital Management LP bought a new position in shares of Rayonier Advanced Materials during the 3rd quarter valued at about $1,267,000. GSA Capital Partners LLP grew its position in shares of Rayonier Advanced Materials by 83.7% during the fourth quarter. GSA Capital Partners LLP now owns 342,135 shares of the basic materials company’s stock valued at $2,015,000 after purchasing an additional 155,902 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Rayonier Advanced Materials by 28.2% in the first quarter. Assenagon Asset Management S.A. now owns 422,927 shares of the basic materials company’s stock worth $4,682,000 after purchasing an additional 92,942 shares during the last quarter. Inscription Capital LLC lifted its position in shares of Rayonier Advanced Materials by 39.2% in the fourth quarter. Inscription Capital LLC now owns 23,248 shares of the basic materials company’s stock worth $137,000 after buying an additional 6,542 shares in the last quarter. Finally, Tactive Advisors LLC boosted its stake in Rayonier Advanced Materials by 18.0% during the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock valued at $78,000 after buying an additional 2,032 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.