Rayonier Advanced Materials (NYSE:RYAM) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.91 and traded as low as $7.67. Rayonier Advanced Materials shares last traded at $7.9150, with a volume of 671,075 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RYAM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Stock Down 1.1%

The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. The firm has a fifty day simple moving average of $8.91 and a 200-day simple moving average of $8.68. The company has a market capitalization of $533.79 million, a PE ratio of -1.12 and a beta of 1.74.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Irenic Capital Management LP acquired a new position in Rayonier Advanced Materials during the 1st quarter worth $15,013,000. Nantahala Capital Management LLC raised its stake in shares of Rayonier Advanced Materials by 252.6% in the 4th quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock valued at $10,602,000 after purchasing an additional 1,289,490 shares in the last quarter. Millennium Management LLC raised its stake in shares of Rayonier Advanced Materials by 177.3% in the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after purchasing an additional 869,486 shares in the last quarter. UBS Group AG lifted its position in shares of Rayonier Advanced Materials by 156.9% during the third quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock worth $5,657,000 after purchasing an additional 478,500 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Rayonier Advanced Materials by 62.8% during the fourth quarter. JPMorgan Chase & Co. now owns 968,757 shares of the basic materials company’s stock worth $5,706,000 after purchasing an additional 373,522 shares during the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

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.