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 report report published on Monday, September 8th,Zacks.com reports.

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

Rayonier Advanced Materials Trading Up 3.7%

RYAM traded up $0.23 during midday trading on Monday, reaching $6.52. 272,174 shares of the company's stock traded hands, compared to its average volume of 565,605. Rayonier Advanced Materials has a 52 week low of $3.35 and a 52 week high of $10.28. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.45 and a quick ratio of 0.83. The firm has a fifty day moving average of $4.81 and a two-hundred day moving average of $4.68. The stock has a market capitalization of $436.85 million, a price-to-earnings ratio of -0.98 and a beta of 2.56.

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

Insider Activity

In other news, CEO Delyle W. Bloomquist purchased 53,533 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $4.71 per share, for a total transaction of $252,140.43. Following the purchase, the chief executive officer directly owned 539,557 shares in the company, valued at approximately $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 can be accessed through this link. 4.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Rayonier Advanced Materials by 1.6% during the first quarter. Vanguard Group Inc. now owns 3,794,079 shares of the basic materials company's stock valued at $21,816,000 after buying an additional 58,671 shares during the last quarter. American Century Companies Inc. boosted its stake in Rayonier Advanced Materials by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 2,565,807 shares of the basic materials company's stock valued at $9,878,000 after purchasing an additional 140,703 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Rayonier Advanced Materials by 2.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,557,852 shares of the basic materials company's stock worth $5,996,000 after purchasing an additional 36,298 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rayonier Advanced Materials by 1.3% in the second quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company's stock worth $5,927,000 after purchasing an additional 19,999 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 38.0% during 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 in the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

About Rayonier Advanced Materials

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.