Rayonier Advanced Materials (NYSE:RYAM) Announces Quarterly Earnings Results

Key Points

• Rayonier Advanced Materials reported ($1.22) EPS for the quarter, missing the consensus ($0.62) by $0.60, and posted weak profitability with a negative ROE (~19.7%) and a net margin of -28.65%.
• Analyst views are mixed but turning cautiously positive: RBC raised its target to $14 and gave an "outperform" rating, and MarketBeat’s consensus price target is $14 (one Buy, one Hold, one Sell).
• The stock traded at $9.26 midday with a market cap of about $624 million and a negative P/E, and institutional investors own roughly 68.64% of the shares.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) released its quarterly earnings data on Tuesday. The basic materials company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.60), Zacks reports. Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%.

Rayonier Advanced Materials Price Performance

RYAM stock traded up $0.27 during midday trading on Tuesday, reaching $9.26. The stock had a trading volume of 888,634 shares, compared to its average volume of 1,155,577. The company's fifty day simple moving average is $10.11 and its 200 day simple moving average is $8.06. The company has a current ratio of 1.58, a quick ratio of 0.92 and a debt-to-equity ratio of 2.39. The company has a market cap of $624.03 million, a price-to-earnings ratio of -1.47 and a beta of 1.79. Rayonier Advanced Materials has a 52-week low of $3.35 and a 52-week high of $11.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of Rayonier Advanced Materials by 754.4% during 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 stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $76,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $86,000. Balyasny Asset Management L.P. purchased a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Rayonier Advanced Materials by 39.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company's stock valued at $119,000 after purchasing an additional 5,721 shares during the period. Hedge funds and other institutional investors own 68.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RYAM shares. Royal Bank Of Canada increased their target price on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday, March 5th. Wall Street Zen upgraded Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Rayonier Advanced Materials currently has a consensus rating of "Hold" and a consensus price target of $14.00.

About Rayonier Advanced Materials

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.

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