Rayonier Advanced Materials Inc (RYAM) was Downgraded by RBC Capital Mkts to ” Underperform” and the brokerage firm has set the Price Target at $8. Earlier the firm had a rating of “Sector Perform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Apr 25, 2016.
Many Wall Street Analysts have commented on Rayonier Advanced Materials Inc. Shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Sector Perform” and Lowered the Price Target to $ 8 from a previous price target of $9 .
On the company’s financial health, Rayonier Advanced Materials Inc reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Feb 1, 2016. Analyst had a consensus of $0.24. The company had revenue of $242.00 million for the quarter, compared to analysts expectations of $242.97 million. The company’s revenue was down -5.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.61 EPS.
Rayonier Advanced Materials Inc opened for trading at $11.54 and hit $11.91 on the upside on Friday, eventually ending the session at $11.73, with a gain of 2.18% or 0.25 points. The heightened volatility saw the trading volume jump to 5,93,376 shares. Company has a market cap of $503 M.
In a different news, on Sep 3, 2015, Lisa M Palumbo (director) purchased 5,000 shares at $5.94 per share price. According to the SEC, on Aug 26, 2015, Frank A Ruperto (CFO) purchased 5,000 shares at $6.61 per share price. On Aug 26, 2015, Paul G Boynton (CEO) purchased 15,000 shares at $6.47 per share price, according to the Form-4 filing with the securities and exchange commission.
Rayonier Advanced Materials Inc. (Rayonier Advanced Materials) is primarily engaged in producing cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Cellulose specialties are polymers used as raw materials to manufacture 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. Commodity products include commodity viscose and absorbent materials. Commodity products include commodity viscose and absorbent materials.