Rayonier Advanced Materials (NYSE:RYAM) Given New $10.00 Price Target at Royal Bank of Canada

Rayonier Advanced Materials (NYSE:RYAM) had its target price increased by research analysts at Royal Bank of Canada from $9.00 to $10.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 22.85% from the stock’s current price.

Separately, StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th.

Rayonier Advanced Materials Price Performance

RYAM traded up $0.34 during trading on Thursday, hitting $8.14. The company’s stock had a trading volume of 113,247 shares, compared to its average volume of 521,537. The firm’s 50 day moving average price is $6.93 and its two-hundred day moving average price is $5.54. The company has a quick ratio of 1.09, a current ratio of 1.69 and a debt-to-equity ratio of 1.00. Rayonier Advanced Materials has a 12 month low of $2.66 and a 12 month high of $8.29. The stock has a market capitalization of $533.79 million, a price-to-earnings ratio of -5.12 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The firm had revenue of $419.00 million during the quarter, compared to the consensus estimate of $407.10 million. During the same quarter in the previous year, the company posted ($0.25) EPS. Sell-side analysts forecast that Rayonier Advanced Materials will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Rayonier Advanced Materials by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock worth $19,576,000 after acquiring an additional 201,939 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Rayonier Advanced Materials by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock worth $16,334,000 after acquiring an additional 31,281 shares during the last quarter. Boston Partners raised its position in shares of Rayonier Advanced Materials by 1,923.5% during the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after acquiring an additional 2,054,715 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of 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 worth $9,548,000 after acquiring an additional 1,648,101 shares during the last quarter. Finally, CastleKnight Management LP raised its position in shares of Rayonier Advanced Materials by 1,036.0% during the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after acquiring an additional 1,790,257 shares during the last quarter. 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.