Rayonier Advanced Materials (NYSE:RYAM) Downgraded to Strong Sell Rating by Zacks Research

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $14.00.

Rayonier Advanced Materials Trading Up 2.1%

Shares of RYAM opened at $7.25 on Tuesday. The firm’s 50-day moving average is $8.60 and its two-hundred day moving average is $8.75. Rayonier Advanced Materials has a twelve month low of $3.35 and a twelve month high of $11.85. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $488.67 million, a P/E ratio of -1.03 and a beta of 1.78.

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

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of institutional investors have recently made changes to their positions in the stock. Irenic Capital Management LP purchased a new stake in shares of Rayonier Advanced Materials in the first quarter valued at $15,013,000. Quantinno Capital Management LP grew its position in shares of Rayonier Advanced Materials by 10.7% in the first quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company’s stock valued at $988,000 after purchasing an additional 8,596 shares during the period. SummitTX Capital L.P. purchased a new position in shares of Rayonier Advanced Materials during the 1st quarter worth about $2,341,000. Lazard Asset Management LLC acquired a new stake in shares of Rayonier Advanced Materials in the first quarter worth approximately $2,150,000. Finally, Waverly Advisors LLC purchased a new stake in shares of Rayonier Advanced Materials during the 1st quarter valued at $1,298,000. 68.64% of the stock is owned by institutional investors and hedge funds.

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.