Rayonier Advanced Materials (NYSE:RYAM) Releases Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Rayonier Advanced Materials (NYSE:RYAM) posted its quarterly earnings data on Tuesday. The basic materials company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.27), FiscalAI reports. The company had revenue of $376.00 million for the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%.

Rayonier Advanced Materials Stock Performance

NYSE RYAM traded down $0.26 during trading hours on Tuesday, reaching $8.76. The stock had a trading volume of 1,153,039 shares, compared to its average volume of 1,045,528. The stock has a fifty day moving average of $8.26 and a 200 day moving average of $8.98. The stock has a market cap of $590.77 million, a P/E ratio of -1.24 and a beta of 1.77. Rayonier Advanced Materials has a 52-week low of $3.35 and a 52-week high of $11.85. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RYAM. Royal Bank Of Canada cut their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Zacks Research downgraded Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $13.00.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of institutional investors have recently bought and sold shares of RYAM. Osaic Holdings Inc. boosted its holdings in shares of Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 7,031 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Rayonier Advanced Materials during the fourth quarter worth $76,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rayonier Advanced Materials during the fourth quarter worth $86,000. Ancora Advisors LLC purchased a new position in shares of Rayonier Advanced Materials during the third quarter worth $138,000. Finally, Balyasny Asset Management L.P. acquired a new position in Rayonier Advanced Materials during the fourth quarter valued at $117,000. 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.