Rayonier Advanced Materials (NYSE:RYAM) Stock Passes Below 50 Day Moving Average – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM) shares 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RYAM shares. Royal Bank Of Canada raised their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. 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, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.00.

Rayonier Advanced Materials Price Performance

The firm’s 50 day simple moving average is $8.83 and its two-hundred day simple moving average is $8.70. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market capitalization of $520.03 million, a P/E ratio of -1.09 and a beta of 1.74.

Rayonier Advanced Materials (NYSE:RYAM) last released its 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 net margin of 32.86% and a negative return on equity of 43.24%. The company had revenue of $319.06 million during the quarter, compared to the consensus estimate of $302.63 million. As a group, analysts predict that Rayonier Advanced Materials Inc. will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RYAM. Irenic Capital Management LP bought a new stake in Rayonier Advanced Materials during the 1st quarter valued at $15,013,000. Quantinno Capital Management LP grew its holdings in Rayonier Advanced Materials by 10.7% in the 1st quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company’s stock worth $988,000 after acquiring an additional 8,596 shares during the last quarter. SummitTX Capital L.P. purchased a new position in shares of Rayonier Advanced Materials in the first quarter valued at about $2,341,000. Lazard Asset Management LLC bought a new position in shares of Rayonier Advanced Materials during the first quarter valued at about $2,150,000. Finally, Waverly Advisors LLC bought a new position in shares of Rayonier Advanced Materials during the first quarter valued at about $1,298,000. 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.