Rayonier Advanced Materials (NYSE:RYAM) Lowered to Sell at Zacks Investment Research

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Saturday, Zacks.com reports.

According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “

A number of other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Berenberg Bank downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $15.00 to $5.00 in a report on Wednesday, October 16th. Sidoti downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada set a $10.00 price objective on shares of Rayonier Advanced Materials and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Bank of America downgraded shares of Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Rayonier Advanced Materials currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Rayonier Advanced Materials stock opened at $4.35 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.15 and a debt-to-equity ratio of 1.90. Rayonier Advanced Materials has a 12-month low of $2.50 and a 12-month high of $15.66. The firm’s fifty day moving average is $4.28 and its 200 day moving average is $5.94. The company has a market capitalization of $174.97 million, a PE ratio of 2.57 and a beta of 3.78.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Monday, November 4th. The basic materials company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.16). Rayonier Advanced Materials had a negative net margin of 1.99% and a negative return on equity of 5.65%. The company had revenue of $416.00 million for the quarter, compared to analyst estimates of $471.24 million. During the same quarter in the previous year, the firm earned $0.54 EPS. The firm’s revenue was down 17.0% on a year-over-year basis. Sell-side analysts expect that Rayonier Advanced Materials will post -0.95 EPS for the current fiscal year.

In other Rayonier Advanced Materials news, CEO Paul G. Boynton acquired 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were purchased at an average price of $3.63 per share, for a total transaction of $363,000.00. Following the completion of the acquisition, the chief executive officer now owns 500,594 shares in the company, valued at approximately $1,817,156.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.09% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $32,000. Bank of Montreal Can grew its stake in shares of Rayonier Advanced Materials by 222.2% in the 2nd quarter. Bank of Montreal Can now owns 7,044 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 4,858 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Rayonier Advanced Materials by 306.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,531 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 5,679 shares in the last quarter. Strs Ohio bought a new stake in shares of Rayonier Advanced Materials in the 3rd quarter worth $51,000. Finally, Gabelli Funds LLC bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $65,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

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.

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