Zacks Research Upgrades Rayonier Advanced Materials (NYSE:RYAM) to Hold

Key Points

• Zacks Research upgraded Rayonier Advanced Materials to “Hold” from “Strong Sell,” while the broader analyst consensus is also “Hold” with an average price target of $13.00.
• RYAM shares opened at $9.17 and were reported down 5.1%; the company has substantial leverage, including a debt-to-equity ratio of 3.82, and analysts expect a full-year loss of $1.16 per share.
• The company missed quarterly EPS expectations, reporting a loss of $0.30 per share versus the estimated $0.22 loss, though revenue of $376.14 million exceeded the $362 million consensus estimate. Institutional investors and hedge funds own 68.64% of the stock.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Royal Bank Of Canada decreased their price objective on Rayonier Advanced Materials from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Wall Street Zen raised Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.00.

Rayonier Advanced Materials Trading Down 5.1%

RYAM opened at $9.17 on Wednesday. Rayonier Advanced Materials has a fifty-two week low of $4.01 and a fifty-two week high of $11.85. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market capitalization of $618.63 million, a price-to-earnings ratio of -4.37 and a beta of 1.77. The company's 50 day moving average price is $8.26 and its two-hundred day moving average price is $8.99.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The business had revenue of $376.14 million for the quarter, compared to the consensus estimate of $362.00 million. Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.18%. As a group, research analysts predict that Rayonier Advanced Materials will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of large investors have recently bought and sold shares of RYAM. 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 worth $31,000 after purchasing an additional 7,031 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Rayonier Advanced Materials in the 4th quarter valued at about $76,000. Dynamic Technology Lab Private Ltd acquired a new position in Rayonier Advanced Materials during the 4th quarter worth approximately $86,000. Balyasny Asset Management L.P. bought a new position in Rayonier Advanced Materials in the fourth quarter worth approximately $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in 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 acquiring an additional 5,721 shares during the period. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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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