Rayonier Advanced Materials (NYSE:RYAM) Rating Increased to Buy 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 Friday.

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 note on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

RYAM stock opened at $9.15 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The firm has a 50 day moving average price of $8.37 and a 200-day moving average price of $6.80. Rayonier Advanced Materials has a 52-week low of $3.02 and a 52-week high of $10.28. The firm has a market capitalization of $603.13 million, a price-to-earnings ratio of -7.15 and a beta of 3.01.

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, beating 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 previous year, the business earned ($0.41) earnings per share. Equities research analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Rayonier Advanced Materials in the second quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter valued at $61,000. nVerses Capital LLC boosted 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 buying an additional 3,900 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Rayonier Advanced Materials in the second quarter worth $66,000. Finally, EntryPoint Capital LLC purchased a new stake in Rayonier Advanced Materials during the first quarter valued at $100,000. Institutional investors own 68.64% of the company’s stock.

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.