Rayonier Advanced Materials (NYSE:RYAM) Stock Rating Upgraded by StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Royal Bank of Canada increased their price target on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Rayonier Advanced Materials Stock Down 1.3 %

Shares of RYAM traded down $0.12 during midday trading on Friday, reaching $9.22. The stock had a trading volume of 353,393 shares, compared to its average volume of 541,297. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The company’s fifty day simple moving average is $8.34 and its two-hundred day simple moving average is $6.73. The company has a market cap of $607.45 million, a price-to-earnings ratio of -7.20 and a beta of 3.01. Rayonier Advanced Materials has a 1-year low of $3.02 and a 1-year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The business had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. During the same period in the prior year, the firm posted ($0.41) EPS. Equities research analysts expect that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Institutional Trading of Rayonier Advanced Materials

A number of large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in Rayonier Advanced Materials during the second quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Rayonier Advanced Materials during the second quarter worth approximately $61,000. nVerses Capital LLC increased its holdings in shares of Rayonier Advanced Materials by 121.9% in the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 3,900 shares during the period. Truist Financial Corp purchased a new stake in Rayonier Advanced Materials in the 2nd quarter valued at $66,000. Finally, EntryPoint Capital LLC acquired a new stake in Rayonier Advanced Materials during the 1st quarter worth $100,000. 68.64% of the stock is owned by institutional investors and hedge funds.

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.