Rayonier Advanced Materials (NYSE:RYAM) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on RYAM. Royal Bank Of Canada cut their price target on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rayonier Advanced Materials currently has an average rating of “Hold” and an average target price of $13.00.

Rayonier Advanced Materials Stock Performance

Shares of RYAM opened at $9.17 on Wednesday. The firm has a market cap of $618.63 million, a P/E ratio of -4.37 and a beta of 1.77. Rayonier Advanced Materials has a twelve month low of $4.01 and a twelve month high of $11.85. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.79 and a current ratio of 1.37. The firm’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) last announced its earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The company had revenue of $376.14 million during the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.18% and a negative net margin of 9.53%. On average, analysts forecast that Rayonier Advanced Materials will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Irenic Capital Management LP acquired a new position in shares of Rayonier Advanced Materials during the 1st quarter worth approximately $15,013,000. Lazard Asset Management LLC acquired a new stake in shares of Rayonier Advanced Materials in the 1st quarter valued at approximately $2,150,000. SummitTX Capital L.P. acquired a new stake in shares of Rayonier Advanced Materials in the 1st quarter valued at approximately $2,341,000. Waverly Advisors LLC bought a new position in shares of Rayonier Advanced Materials in the first quarter valued at $1,298,000. Finally, Hsbc Holdings PLC bought a new position in shares of Rayonier Advanced Materials in the first quarter valued at $1,203,000. 68.64% of the stock is owned by institutional investors.

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.