Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 8.8% – What’s Next?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) dropped 8.8% on Monday . The company traded as low as $8.15 and last traded at $8.2560. 173,267 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,045,674 shares. The stock had previously closed at $9.05.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RYAM shares. Royal Bank Of Canada upped their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Tuesday, April 21st. 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 stock. According to MarketBeat, Rayonier Advanced Materials has a consensus rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Stock Performance

The company’s fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $8.61. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a market capitalization of $558.74 million, a P/E ratio of -1.18 and a beta of 1.74.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.60). The firm had revenue of $319.06 million during the quarter, compared to analyst estimates of $302.63 million. Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. As a group, equities analysts forecast that Rayonier Advanced Materials Inc. will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently modified their holdings of RYAM. Hudson Bay Capital Management LP acquired a new stake in shares of Rayonier Advanced Materials in the third quarter valued at approximately $1,267,000. American Century Companies Inc. grew its position in Rayonier Advanced Materials by 6.1% during the third quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock worth $19,646,000 after buying an additional 155,268 shares in the last quarter. GSA Capital Partners LLP increased its stake in Rayonier Advanced Materials by 83.7% during the 4th quarter. GSA Capital Partners LLP now owns 342,135 shares of the basic materials company’s stock worth $2,015,000 after acquiring an additional 155,902 shares during the period. Fox Run Management L.L.C. acquired a new position in Rayonier Advanced Materials in the 3rd quarter valued at $491,000. Finally, Irenic Capital Management LP acquired a new position in Rayonier Advanced Materials in the 1st quarter valued at $15,013,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Company Profile

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.