Rayonier Advanced Materials Inc (NYSE:RYAM) shares traded up 8.5% during trading on Thursday . The stock traded as high as $4.52 and last traded at $4.48, 793,601 shares traded hands during trading. A decline of 12% from the average session volume of 903,947 shares. The stock had previously closed at $4.13.
Several research analysts have recently commented on the company. Sidoti lowered Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada set a $10.00 price target on Rayonier Advanced Materials and gave the stock a “buy” rating in a research report on Friday, August 9th. ValuEngine upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America lowered Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.00.
The firm has a 50-day moving average price of $3.91 and a 200 day moving average price of $7.38. The firm has a market capitalization of $217.35 million, a PE ratio of 2.65 and a beta of 3.75. The company has a quick ratio of 1.09, a current ratio of 2.00 and a debt-to-equity ratio of 1.82.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.17). The firm had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $497.01 million. Rayonier Advanced Materials had a return on equity of 1.70% and a net margin of 0.69%. The company’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities research analysts expect that Rayonier Advanced Materials Inc will post -0.97 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. purchased a new position in Rayonier Advanced Materials in the second quarter valued at $32,000. Bank of Montreal Can boosted its holdings in Rayonier Advanced Materials by 222.2% in the second quarter. Bank of Montreal Can now owns 7,044 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 4,858 shares during the period. Meeder Asset Management Inc. boosted its holdings in Rayonier Advanced Materials by 306.6% in the second quarter. Meeder Asset Management Inc. now owns 7,531 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 5,679 shares during the period. Gabelli Funds LLC purchased a new position in Rayonier Advanced Materials in the second quarter valued at $65,000. Finally, Tyers Asset Management LLC boosted its holdings in Rayonier Advanced Materials by 70.0% in the second quarter. Tyers Asset Management LLC now owns 10,528 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 4,336 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.
About Rayonier Advanced Materials (NYSE:RYAM)
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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