Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 5.7% – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s share price was down 5.7% on Thursday. The company traded as low as $7.58 and last traded at $7.5190. 271,527 shares changed hands during trading, a decline of 73% from the average session volume of 1,003,668 shares. The stock had previously closed at $7.97.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RYAM. Royal Bank Of Canada reduced their price objective on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research 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. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.00.

Rayonier Advanced Materials Trading Down 6.1%

The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $506.29 million, a price-to-earnings ratio of -3.57 and a beta of 1.76. The company has a fifty day moving average price of $8.57 and a 200-day moving average price of $8.92.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) 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 analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. On average, equities research analysts predict that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Rayonier Advanced Materials during the 2nd quarter worth approximately $37,437,000. Aip LLC acquired a new stake in Rayonier Advanced Materials in the second quarter worth about $26,724,000. Nantahala Capital Management LLC bought a new stake in shares of Rayonier Advanced Materials during the second quarter worth approximately $13,344,126. Irenic Capital Management LP acquired a new position in shares of Rayonier Advanced Materials in the 1st quarter valued at $15,013,000. Finally, Empowered Funds LLC bought a new position in Rayonier Advanced Materials during the second quarter worth about $3,138,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc (NYSE:RYAM) is a specialty materials company that develops and manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, viscose pulp and other engineered biomaterials.

The company’s products are used in a range of applications, including pharmaceutical and food ingredients, cigarette filters, liquid-crystal displays, paints and coatings, textiles, tire and rubber products, personal care items and other specialty materials.