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 research note published on Wednesday morning.

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 research report on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

Shares of NYSE RYAM opened at $8.82 on Wednesday. The stock’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $7.09. The firm has a market capitalization of $581.41 million, a PE ratio of -6.89 and a beta of 3.01. Rayonier Advanced Materials has a fifty-two week low of $3.15 and a fifty-two week high of $10.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73.

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 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 for the quarter, compared to analysts’ expectations of $412.20 million. During the same quarter last year, the company earned ($0.41) earnings per share. As a group, equities research analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of institutional investors have recently modified their holdings of RYAM. Quarry LP purchased a new position in Rayonier Advanced Materials during the 2nd quarter worth $29,000. nVerses Capital LLC grew its holdings in shares of Rayonier Advanced Materials by 121.9% during the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,900 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials in the 2nd quarter valued at about $61,000. Truist Financial Corp purchased a new stake in Rayonier Advanced Materials during the 2nd quarter valued at approximately $66,000. Finally, Intech Investment Management LLC purchased a new position in shares of Rayonier Advanced Materials in the 3rd quarter valued at approximately $139,000. 68.64% of the stock is owned by institutional investors and hedge funds.

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.