Rayonier Advanced Materials (NYSE:RYAM) Cut to Sell at Wall Street Zen

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

RYAM has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. Zacks Research cut Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $14.00.

Rayonier Advanced Materials Stock Performance

NYSE RYAM traded up $0.26 during trading on Friday, reaching $7.30. The company’s stock had a trading volume of 482,520 shares, compared to its average volume of 1,047,699. 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 market cap of $492.64 million, a price-to-earnings ratio of -1.04 and a beta of 1.78. Rayonier Advanced Materials has a twelve month low of $3.35 and a twelve month high of $11.85. The business’s fifty day moving average price is $8.50 and its 200-day moving average price is $8.75.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS 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 business had revenue of $319.06 million during the quarter, compared to analysts’ expectations of $302.63 million. As a group, analysts anticipate that Rayonier Advanced Materials will post -1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RYAM. Millennium Management LLC lifted its position in Rayonier Advanced Materials by 38.0% in the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock valued at $6,718,000 after purchasing an additional 321,613 shares during the period. Caxton Associates LLP acquired a new position in Rayonier Advanced Materials during the 1st quarter worth approximately $248,000. Empowered Funds LLC raised its stake in shares of Rayonier Advanced Materials by 4.2% during the 1st quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock worth $2,139,000 after buying an additional 15,071 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rayonier Advanced Materials by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock worth $5,927,000 after buying an additional 19,999 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Rayonier Advanced Materials by 923.8% in the second quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock worth $535,000 after acquiring an additional 125,336 shares in the last quarter. 68.64% of the stock is currently 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.