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

Rayonier Advanced Materials Inc. (NYSE:RYAM) gapped down before the market opened on Monday . The stock had previously closed at $8.95, but opened at $8.60. Rayonier Advanced Materials shares last traded at $8.33, with a volume of 127,991 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on RYAM shares. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th.

Rayonier Advanced Materials Stock Performance

The firm’s 50 day simple moving average is $7.80 and its 200 day simple moving average is $6.08. The firm has a market cap of $538.32 million, a PE ratio of -6.95 and a beta of 2.99. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The company had revenue of $419.00 million during the quarter, compared to analyst estimates of $407.10 million. During the same period in the prior year, the company earned ($0.25) earnings per share. On average, research analysts forecast that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of Rayonier Advanced Materials by 471.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after buying an additional 1,648,101 shares in the last quarter. Boston Partners grew its position in Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after acquiring an additional 2,054,715 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Rayonier Advanced Materials by 30.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock worth $3,429,000 after acquiring an additional 168,222 shares during the last quarter. Aristeia Capital L.L.C. raised its position in Rayonier Advanced Materials by 338.2% during the second quarter. Aristeia Capital L.L.C. now owns 123,313 shares of the basic materials company’s stock valued at $671,000 after purchasing an additional 95,173 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $632,000. Institutional investors own 68.64% of the company’s stock.

About Rayonier Advanced Materials

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.