Rayonier Advanced Materials (NYSE:RYAM) Rating Increased to Hold at Zacks Research

Key Points

• Rayonier Advanced Materials was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analysts' outlook on the company's stock.
• The stock has an average rating of "Moderate Buy" with a consensus price target of $6.00, but has faced challenges, missing quarterly earnings estimates by a significant margin.
• Insider buying occurred as CEO Delyle W. Bloomquist purchased over 53,000 shares, indicating confidence in the company's future despite its current struggles.

Zacks Research upgraded shares of Rayonier Advanced Materials (NYSE:RYAM - Free Report) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Separately, Wall Street Zen lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Rayonier Advanced Materials has a consensus rating of "Moderate Buy" and an average price target of $6.00.

Rayonier Advanced Materials Price Performance

Rayonier Advanced Materials stock traded up $0.17 during midday trading on Monday, reaching $6.31. 645,916 shares of the company were exchanged, compared to its average volume of 680,315. The company has a market capitalization of $422.77 million, a price-to-earnings ratio of -0.95 and a beta of 2.56. The firm's 50-day simple moving average is $4.81 and its 200-day simple moving average is $4.72. Rayonier Advanced Materials has a 1 year low of $3.35 and a 1 year high of $10.28. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The business had revenue of $340.00 million during the quarter, compared to analysts' expectations of $387.07 million. Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%. On average, analysts anticipate that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Insider Buying and Selling

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist purchased 53,533 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $4.71 per share, with a total value of $252,140.43. Following the completion of the purchase, the chief executive officer owned 539,557 shares in the company, valued at $2,541,313.47. This trade represents a 11.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rayonier Advanced Materials

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its stake in Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company's stock worth $31,000 after acquiring an additional 7,031 shares in the last quarter. State of Wyoming increased its position in Rayonier Advanced Materials by 28.4% in the 2nd quarter. State of Wyoming now owns 69,557 shares of the basic materials company's stock worth $268,000 after purchasing an additional 15,389 shares during the last quarter. Oxford Asset Management LLP increased its position in Rayonier Advanced Materials by 290.0% in the 2nd quarter. Oxford Asset Management LLP now owns 65,627 shares of the basic materials company's stock worth $253,000 after purchasing an additional 48,798 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Rayonier Advanced Materials by 19.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 97,964 shares of the basic materials company's stock worth $377,000 after purchasing an additional 15,731 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Rayonier Advanced Materials by 30.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 484,043 shares of the basic materials company's stock worth $1,864,000 after purchasing an additional 113,414 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

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.