Sidoti Lowers Rayonier Advanced Materials (NYSE:RYAM) to Neutral

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.

RYAM has been the topic of a number of other reports. TheStreet downgraded Rayonier Advanced Materials from a “b-” rating to a “c” rating in a research note on Monday, May 13th. Bank of America downgraded Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research note on Thursday. Zacks Investment Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, DA Davidson decreased their price target on Rayonier Advanced Materials to $18.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.33.

Shares of Rayonier Advanced Materials stock traded down $0.10 during trading on Thursday, reaching $2.87. The company’s stock had a trading volume of 3,020,778 shares, compared to its average volume of 1,501,947. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.08 and a quick ratio of 1.03. Rayonier Advanced Materials has a 12-month low of $2.81 and a 12-month high of $22.07. The business’s 50 day simple moving average is $5.39.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.17). Rayonier Advanced Materials had a net margin of 0.69% and a return on equity of 1.66%. The business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $497.01 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Rayonier Advanced Materials will post -0.25 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Rayonier Advanced Materials by 14.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 594,869 shares of the basic materials company’s stock worth $3,861,000 after buying an additional 76,601 shares during the period. Trexquant Investment LP boosted its position in shares of Rayonier Advanced Materials by 165.6% in the second quarter. Trexquant Investment LP now owns 31,550 shares of the basic materials company’s stock worth $205,000 after buying an additional 19,673 shares during the period. Bank of Montreal Can boosted its position in shares of 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 worth $46,000 after buying an additional 4,858 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Rayonier Advanced Materials in the second quarter worth about $32,000. Finally, Prudential Financial Inc. boosted its position in shares of Rayonier Advanced Materials by 21.2% in the second quarter. Prudential Financial Inc. now owns 1,128,947 shares of the basic materials company’s stock worth $7,327,000 after buying an additional 197,163 shares during the period. 99.75% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile

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.

Featured Story: SEC Filing

Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.