Zacks Investment Research cut shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a sell rating in a research report released on Wednesday morning.
According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “
A number of other equities analysts have also recently issued reports on RYAM. TheStreet raised Rayonier Advanced Materials from a c rating to a b rating in a report on Wednesday, December 13th. Royal Bank of Canada reissued a buy rating and issued a $18.00 target price on shares of Rayonier Advanced Materials in a report on Friday, October 27th. ValuEngine cut Rayonier Advanced Materials from a buy rating to a hold rating in a report on Thursday, November 9th. Finally, Vertical Research cut Rayonier Advanced Materials from a buy rating to a hold rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Rayonier Advanced Materials currently has a consensus rating of Hold and a consensus target price of $20.83.
Shares of Rayonier Advanced Materials (NYSE:RYAM) opened at $20.42 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.46 and a debt-to-equity ratio of 2.19. Rayonier Advanced Materials has a 52-week low of $11.88 and a 52-week high of $20.99. The company has a market capitalization of $888.90, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 2.33 and a beta of 4.03.
Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, February 20th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.35. Rayonier Advanced Materials had a return on equity of 25.92% and a net margin of 33.92%. The business had revenue of $349.00 million during the quarter, compared to analysts’ expectations of $349.31 million. During the same period in the prior year, the firm posted $0.18 EPS. Rayonier Advanced Materials’s quarterly revenue was up 51.1% compared to the same quarter last year. sell-side analysts expect that Rayonier Advanced Materials will post 1.76 earnings per share for the current fiscal year.
Rayonier Advanced Materials declared that its Board of Directors has initiated a share buyback program on Tuesday, February 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Rayonier Advanced Materials by 6.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,946 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 399 shares in the last quarter. Quantbot Technologies LP increased its holdings in Rayonier Advanced Materials by 1,613.9% during the 3rd quarter. Quantbot Technologies LP now owns 10,129 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 9,538 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in Rayonier Advanced Materials during the 3rd quarter valued at $146,000. Crossmark Global Holdings Inc. acquired a new stake in Rayonier Advanced Materials during the 3rd quarter valued at $176,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Rayonier Advanced Materials during the 3rd quarter valued at $186,000. 98.40% of the stock is owned by institutional investors and hedge funds.
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About Rayonier Advanced Materials
Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.
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