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

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a buy rating in a report released on Monday.

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

Rayonier Advanced Materials Price Performance

Shares of RYAM opened at $7.50 on Monday. Rayonier Advanced Materials has a 52 week low of $3.15 and a 52 week high of $10.28. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The firm has a market cap of $494.07 million, a price-to-earnings ratio of -5.86 and a beta of 3.00. The stock has a 50 day moving average of $7.98 and a 200-day moving average of $7.93.

Rayonier Advanced Materials (NYSE:RYAM) last announced 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. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period last year, the business posted ($0.41) earnings per share. As a group, analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Insider Activity at Rayonier Advanced Materials

In other news, Director Eric Bowen purchased 12,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $100,500.00. Following the completion of the purchase, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $100,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Rayonier Advanced Materials by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,492,578 shares of the basic materials company’s stock valued at $12,779,000 after buying an additional 26,032 shares during the period. State Street Corp grew its holdings in shares of Rayonier Advanced Materials by 1.1% during the third quarter. State Street Corp now owns 1,440,085 shares of the basic materials company’s stock worth $12,327,000 after buying an additional 16,139 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rayonier Advanced Materials by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock worth $4,288,000 after acquiring an additional 306,640 shares in the last quarter. Empowered Funds LLC increased its position in shares of Rayonier Advanced Materials by 5.1% in the fourth quarter. Empowered Funds LLC now owns 356,960 shares of the basic materials company’s stock valued at $2,945,000 after acquiring an additional 17,368 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Rayonier Advanced Materials by 226.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock worth $2,782,000 after purchasing an additional 225,575 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

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.