Rayonier Advanced Materials (NYSE:RYAM) Upgraded at StockNews.com

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

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

Rayonier Advanced Materials Stock Performance

Shares of NYSE RYAM traded down $0.10 during mid-day trading on Wednesday, reaching $8.72. 323,777 shares of the company were exchanged, compared to its average volume of 535,573. The company’s 50-day simple moving average is $8.58 and its 200-day simple moving average is $7.05. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $574.82 million, a P/E ratio of -6.81 and a beta of 3.01. Rayonier Advanced Materials has a twelve month low of $3.02 and a twelve month high of $10.28.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Rayonier Advanced Materials during the second quarter worth $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials during the second quarter worth $61,000. nVerses Capital LLC grew its stake 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 worth $61,000 after acquiring an additional 3,900 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $66,000. Finally, Intech Investment Management LLC bought a new stake in shares of Rayonier Advanced Materials in the 3rd quarter worth $139,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

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.