Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Down – What’s Next?

Rayonier Advanced Materials Inc. (NYSE:RYAM) gapped down before the market opened on Thursday . The stock had previously closed at $8.87, but opened at $8.34. Rayonier Advanced Materials shares last traded at $8.3320, with a volume of 33,227 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on RYAM shares. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada increased their price target on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.00.

Rayonier Advanced Materials Trading Up 1.3%

The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79. The firm’s 50 day moving average is $9.95 and its 200 day moving average is $8.23. The company has a market capitalization of $588.47 million, a PE ratio of -1.24 and a beta of 1.79.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS 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 $319.07 million during the quarter, compared to analysts’ expectations of $302.63 million. As a group, equities analysts predict that Rayonier Advanced Materials Inc. will post -0.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Rayonier Advanced Materials by 6.1% in the third quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock worth $19,646,000 after buying an additional 155,268 shares during the period. Nantahala Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 252.6% in the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock worth $10,602,000 after buying an additional 1,289,490 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rayonier Advanced Materials by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock worth $9,942,000 after buying an additional 348,589 shares during the period. Geode Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,548,346 shares of the basic materials company’s stock worth $9,122,000 after buying an additional 9,234 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Rayonier Advanced Materials by 177.3% in the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock worth $9,817,000 after buying an additional 869,486 shares during the period. 68.64% of the stock is owned by hedge funds and other institutional investors.

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.