Rayonier Advanced Materials (NYSE:RYAM) Downgraded to Hold Rating by StockNews.com

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report released on Thursday.

Separately, Royal Bank of Canada raised their price target on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Stock Down 0.2 %

Rayonier Advanced Materials stock traded down $0.02 during trading on Thursday, hitting $8.56. 303,946 shares of the company were exchanged, compared to its average volume of 531,327. The business's 50 day moving average is $8.62 and its 200 day moving average is $7.20. Rayonier Advanced Materials has a 52 week low of $3.15 and a 52 week high of $10.28. The company has a market capitalization of $564.28 million, a P/E ratio of -6.69 and a beta of 3.01. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The business had revenue of $401.00 million for the quarter, compared to analysts' expectations of $412.20 million. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. Analysts predict that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its position in Rayonier Advanced Materials by 24.7% during the second quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company's stock valued at $8,248,000 after acquiring an additional 300,793 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Rayonier Advanced Materials during the third quarter valued at about $2,574,000. Assenagon Asset Management S.A. grew its holdings in Rayonier Advanced Materials by 226.8% during the third quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company's stock valued at $2,782,000 after purchasing an additional 225,575 shares during the period. Dimensional Fund Advisors LP grew its holdings in Rayonier Advanced Materials by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company's stock valued at $19,576,000 after purchasing an additional 201,939 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Rayonier Advanced Materials by 760.4% during the third quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company's stock valued at $1,575,000 after purchasing an additional 162,588 shares during the period. Hedge funds and other institutional investors own 68.64% 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, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company's products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.