Rayonier Advanced Materials Inc (NYSE:RYAM)’s stock price shot up 5.5% on Tuesday . The company traded as high as $3.13 and last traded at $3.06, 882,671 shares were traded during mid-day trading. A decline of 2% from the average session volume of 902,171 shares. The stock had previously closed at $2.90.
A number of brokerages have recently weighed in on RYAM. Sidoti lowered Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. TheStreet lowered Rayonier Advanced Materials from a “b-” rating to a “c” rating in a research note on Monday, May 13th. Bank of America lowered Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research note on Thursday, August 8th. ValuEngine upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.00.
The business has a 50-day moving average price of $5.09. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.00 and a quick ratio of 1.09. The stock has a market cap of $143.07 million, a PE ratio of 1.81 and a beta of 3.61.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.17). The firm had revenue of $488.00 million during the quarter, compared to analyst estimates of $497.01 million. Rayonier Advanced Materials had a return on equity of 1.70% and a net margin of 0.69%. Rayonier Advanced Materials’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, analysts predict that Rayonier Advanced Materials Inc will post -0.45 EPS for the current year.
A number of hedge funds have recently made changes to their positions in RYAM. Meeder Asset Management Inc. increased its position in Rayonier Advanced Materials by 248.1% in the first quarter. Meeder Asset Management Inc. now owns 1,852 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,320 shares during the period. Investors Research Corp acquired a new stake in Rayonier Advanced Materials in the first quarter worth about $26,000. Rockefeller Capital Management L.P. acquired a new stake in Rayonier Advanced Materials in the second quarter worth about $32,000. Bank of Montreal Can increased its position in Rayonier Advanced Materials by 222.2% in the second quarter. Bank of Montreal Can now owns 7,044 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 4,858 shares during the period. Finally, Gabelli Funds LLC acquired a new stake in Rayonier Advanced Materials in the second quarter worth about $65,000. Hedge funds and other institutional investors own 99.90% of the company’s stock.
Rayonier Advanced Materials Company Profile (NYSE:RYAM)
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
See Also: Hold Rating
Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.