Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) issued its quarterly earnings results on Tuesday. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $383.00 million during the quarter, compared to analyst estimates of $389.37 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%.
Rayonier Advanced Materials Stock Performance
Shares of Rayonier Advanced Materials stock opened at $6.91 on Wednesday. The business’s fifty day moving average price is $7.72 and its 200 day moving average price is $8.65. Rayonier Advanced Materials has a twelve month low of $5.38 and a twelve month high of $11.85. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 3.83.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Thursday, October 15th. Royal Bank Of Canada decreased their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.00.
About Rayonier Advanced Materials
Rayonier Advanced Materials Inc (NYSE: RYAM) is a specialty materials company that manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, and other engineered materials used in products such as acetate tow for cigarette filters, pharmaceutical and food-grade excipients, coatings, films, plastics, and other specialty applications.
The company also produces performance fibers and related cellulose products for markets including textiles, nonwovens, and industrial materials.
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