Rayonier Advanced Materials Inc. (RYAM) Downgraded by Zacks Investment Research
Rayonier Advanced Materials Inc. (NYSE:RYAM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.
According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “
A number of other equities analysts have also recently weighed in on the company. ValuEngine raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday. BidaskClub cut Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Vertical Group raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $19.00 in a report on Tuesday, July 25th. Vertical Research raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, TheStreet raised Rayonier Advanced Materials from a “d” rating to a “c” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Rayonier Advanced Materials presently has an average rating of “Hold” and a consensus target price of $19.33.
Rayonier Advanced Materials (NYSE RYAM) opened at 13.86 on Tuesday. The company has a 50-day moving average price of $15.53 and a 200 day moving average price of $14.22. The firm has a market capitalization of $587.48 million, a P/E ratio of 16.82 and a beta of 4.28. Rayonier Advanced Materials has a 1-year low of $10.37 and a 1-year high of $17.60.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.15. Rayonier Advanced Materials had a return on equity of 24.17% and a net margin of 5.71%. The company had revenue of $201 million during the quarter, compared to analyst estimates of $214 million. During the same period last year, the firm earned $0.46 earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. Analysts expect that Rayonier Advanced Materials will post $0.81 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of RYAM. Spark Investment Management LLC bought a new stake in shares of Rayonier Advanced Materials during the first quarter valued at $3,304,000. Acadian Asset Management LLC bought a new stake in shares of Rayonier Advanced Materials during the first quarter valued at $1,294,000. Russell Investments Group Ltd. bought a new stake in shares of Rayonier Advanced Materials during the fourth quarter valued at $504,000. Dimensional Fund Advisors LP increased its stake in shares of Rayonier Advanced Materials by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,739 shares of the basic materials company’s stock valued at $17,559,000 after buying an additional 367,613 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 38.9% in the first quarter. Highbridge Capital Management LLC now owns 109,905 shares of the basic materials company’s stock valued at $1,478,000 after buying an additional 30,788 shares during the last quarter. 86.71% of the stock is owned by institutional investors.
About Rayonier Advanced Materials
Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.
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