StockNews.com Downgrades Rayonier Advanced Materials (NYSE:RYAM) to Hold

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Separately, Royal Bank of Canada raised their price target on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Stock Performance

Shares of Rayonier Advanced Materials stock opened at $7.47 on Friday. The stock has a market cap of $492.39 million, a price-to-earnings ratio of -5.84 and a beta of 3.01. Rayonier Advanced Materials has a twelve month low of $3.15 and a twelve month high of $10.28. The company’s fifty day moving average is $8.44 and its 200 day moving average is $7.40. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. During the same quarter in the previous year, the company posted ($0.41) EPS. Sell-side analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Insider Buying and Selling at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen purchased 12,500 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $8.04 per share, with a total value of $100,500.00. Following the completion of the purchase, the director now owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.14% of the company’s stock.

Institutional Trading of Rayonier Advanced Materials

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in shares of Rayonier Advanced Materials by 71.6% during the third quarter. Franklin Resources Inc. now owns 118,174 shares of the basic materials company’s stock valued at $962,000 after purchasing an additional 49,309 shares during the period. Barclays PLC raised its stake in Rayonier Advanced Materials by 273.6% during the 3rd quarter. Barclays PLC now owns 83,893 shares of the basic materials company’s stock worth $718,000 after buying an additional 61,437 shares during the period. Geode Capital Management LLC raised its stake in Rayonier Advanced Materials by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,492,578 shares of the basic materials company’s stock worth $12,779,000 after buying an additional 26,032 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Rayonier Advanced Materials by 1.8% in the third quarter. Public Employees Retirement System of Ohio now owns 63,054 shares of the basic materials company’s stock worth $540,000 after acquiring an additional 1,139 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in Rayonier Advanced Materials by 263.0% in the third quarter. XTX Topco Ltd now owns 101,921 shares of the basic materials company’s stock valued at $872,000 after acquiring an additional 73,846 shares during the period. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.