Rayonier Advanced Materials (NYSE:RYAM) Trading 6.7% Higher

Rayonier Advanced Materials Inc (NYSE:RYAM) traded up 6.7% on Monday . The company traded as high as $2.95 and last traded at $3.03, 21,147 shares traded hands during mid-day trading. A decline of 99% from the average session volume of 1,722,489 shares. The stock had previously closed at $2.84.

Several equities analysts have recently weighed in on the company. TheStreet cut Rayonier Advanced Materials from a “b-” rating to a “c” rating in a report on Monday, May 13th. DA Davidson lowered their price target on Rayonier Advanced Materials to $18.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Sidoti cut Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Zacks Investment Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Bank of America cut Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.00.

The company has a current ratio of 2.00, a quick ratio of 1.09 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $150.05 million, a PE ratio of 1.77 and a beta of 3.61. The firm has a 50 day moving average price of $4.60 and a 200 day moving average price of $9.90.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.17). The company had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $497.01 million. Rayonier Advanced Materials had a return on equity of 1.70% and a net margin of 0.69%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. On average, equities research analysts expect that Rayonier Advanced Materials Inc will post -0.85 EPS for the current year.

Hedge funds have recently modified their holdings of the business. LSV Asset Management increased its stake in Rayonier Advanced Materials by 1.3% in the 1st quarter. LSV Asset Management now owns 1,823,208 shares of the basic materials company’s stock worth $24,722,000 after buying an additional 23,050 shares in the last quarter. Norges Bank purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth $4,648,000. Raymond James Trust N.A. purchased a new stake in Rayonier Advanced Materials in the 1st quarter worth $209,000. Hawkeye Capital Management LLC purchased a new position in shares of Rayonier Advanced Materials during the first quarter valued at about $3,625,000. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Rayonier Advanced Materials during the second quarter valued at about $73,000. Institutional investors and hedge funds own 97.27% of the company’s stock.

Rayonier Advanced Materials Company Profile (NYSE:RYAM)

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

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