StockNews.com Upgrades Rayonier Advanced Materials (NYSE:RYAM) to “Buy”

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a buy rating in a research note released on Friday morning.

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

Rayonier Advanced Materials Trading Down 0.7 %

NYSE:RYAM opened at $9.15 on Friday. Rayonier Advanced Materials has a one year low of $3.02 and a one year high of $10.28. The business has a fifty day moving average price of $8.37 and a 200-day moving average price of $6.80. The firm has a market capitalization of $603.13 million, a price-to-earnings ratio of -7.15 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted ($0.41) earnings per share. Sell-side analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Institutional Trading of Rayonier Advanced Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners grew its holdings in Rayonier Advanced Materials by 1,923.5% during the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after buying an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Rayonier Advanced Materials by 471.8% during the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock valued at $9,548,000 after acquiring an additional 1,648,101 shares in the last quarter. American Century Companies Inc. increased its holdings in Rayonier Advanced Materials by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock valued at $8,248,000 after acquiring an additional 300,793 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Rayonier Advanced Materials in the 3rd quarter worth $2,574,000. Finally, Assenagon Asset Management S.A. boosted its holdings 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 valued at $2,782,000 after purchasing an additional 225,575 shares during the last quarter. Institutional investors 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.