Rayonier Advanced Materials (NYSE:RYAM) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a research note issued on Thursday.
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. “
Several other equities research analysts also recently commented on the stock. ValuEngine raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Monday, August 6th. Berenberg Bank initiated coverage on shares of Rayonier Advanced Materials in a research report on Thursday, July 12th. They set a “buy” rating and a $25.00 target price for the company. Finally, Bank of America decreased their target price on shares of Rayonier Advanced Materials from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.25.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.07. Rayonier Advanced Materials had a net margin of 23.97% and a return on equity of 17.08%. The firm had revenue of $542.00 million for the quarter, compared to analyst estimates of $544.22 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 169.7% compared to the same quarter last year. Equities analysts anticipate that Rayonier Advanced Materials will post 2.17 EPS for the current year.
A number of hedge funds have recently modified their holdings of RYAM. Sigma Planning Corp bought a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $178,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $188,000. Oppenheimer Asset Management Inc. bought a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $200,000. Point72 Hong Kong Ltd bought a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $203,000. Finally, United Services Automobile Association bought a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $205,000. 98.22% of the stock is owned by institutional investors and hedge funds.
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, and Pulp & 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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