Rayonier Advanced Materials (NYSE:RYAM) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Rayonier Advanced Materials (NYSE:RYAM - Free Report) from a buy rating to a hold rating in a research report released on Thursday.

Separately, Royal Bank of Canada decreased their target price on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM traded up $0.19 during mid-day trading on Thursday, hitting $4.25. 319,608 shares of the company's stock traded hands, compared to its average volume of 534,138. Rayonier Advanced Materials has a 12 month low of $3.45 and a 12 month high of $10.28. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $283.79 million, a price-to-earnings ratio of -3.31 and a beta of 2.63. The firm has a 50 day moving average of $4.73 and a two-hundred day moving average of $6.82.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.35). Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The company had revenue of $356.00 million during the quarter, compared to the consensus estimate of $375.80 million. On average, equities analysts forecast that Rayonier Advanced Materials will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position 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 valued at $718,000 after purchasing an additional 61,437 shares during the period. Franklin Resources Inc. raised its holdings in Rayonier Advanced Materials by 71.6% in the third quarter. Franklin Resources Inc. now owns 118,174 shares of the basic materials company's stock worth $962,000 after purchasing an additional 49,309 shares during the period. JPMorgan Chase & Co. raised its holdings in Rayonier Advanced Materials by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company's stock worth $4,288,000 after purchasing an additional 306,640 shares during the period. SG Americas Securities LLC raised its stake in Rayonier Advanced Materials by 33.5% during the 4th quarter. SG Americas Securities LLC now owns 45,367 shares of the basic materials company's stock worth $374,000 after buying an additional 11,384 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Rayonier Advanced Materials by 5.1% during the fourth quarter. Empowered Funds LLC now owns 356,960 shares of the basic materials company's stock worth $2,945,000 after purchasing an additional 17,368 shares during the period. Institutional investors and hedge funds own 68.64% of the company's stock.

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.