Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Rayonier Advanced Materials currently has a consensus rating of “Reduce” and a consensus price target of $14.00.
View Our Latest Research Report on Rayonier Advanced Materials
Rayonier Advanced Materials Trading Up 2.1%
Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%.The firm had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. Research analysts forecast that Rayonier Advanced Materials will post -1.16 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rayonier Advanced Materials
A number of large investors have recently modified their holdings of RYAM. Hudson Bay Capital Management LP bought a new position in Rayonier Advanced Materials in the 3rd quarter worth approximately $1,267,000. GSA Capital Partners LLP boosted its position in Rayonier Advanced Materials by 83.7% in the 4th quarter. GSA Capital Partners LLP now owns 342,135 shares of the basic materials company’s stock valued at $2,015,000 after buying an additional 155,902 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Rayonier Advanced Materials by 28.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 422,927 shares of the basic materials company’s stock valued at $4,682,000 after buying an additional 92,942 shares during the period. Next Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 24.2% in the 4th quarter. Next Capital Management LLC now owns 82,245 shares of the basic materials company’s stock valued at $484,000 after buying an additional 16,000 shares during the period. Finally, Inscription Capital LLC raised its position in shares of Rayonier Advanced Materials by 39.2% during the fourth quarter. Inscription Capital LLC now owns 23,248 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 6,542 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.
About Rayonier Advanced Materials
Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.
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