Rayonier Advanced Materials Inc (NYSE:RYAM)’s stock price fell 6.7% on Tuesday . The company traded as low as $4.06 and last traded at $4.07, 526,333 shares traded hands during mid-day trading. A decline of 42% from the average session volume of 906,738 shares. The stock had previously closed at $4.36.

A number of research firms have recently weighed in on RYAM. Zacks Investment Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada set a $10.00 price target on shares of Rayonier Advanced Materials and gave the company a “buy” rating in a research report on Friday, August 9th. Sidoti lowered shares of Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Bank of America lowered shares of Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Rayonier Advanced Materials presently has an average rating of “Hold” and an average target price of $17.00.

The company has a market cap of $217.35 million, a price-to-earnings ratio of 2.44 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. The company’s 50-day moving average is $3.88 and its 200 day moving average is $7.42.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Wednesday, August 7th. The basic materials company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.17). Rayonier Advanced Materials had a net margin of 0.69% and a return on equity of 1.70%. The company had revenue of $488.00 million during the quarter, compared to analyst estimates of $497.01 million. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. Analysts predict that Rayonier Advanced Materials Inc will post -0.97 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in RYAM. Quantinno Capital Management LP acquired a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $681,000. Hawkeye Capital Management LLC acquired a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $3,625,000. Denali Advisors LLC acquired a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $78,000. WINTON GROUP Ltd acquired a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $708,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $73,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Rayonier Advanced Materials Company Profile (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.

Further Reading: Outperform Rating

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