Rayonier Advanced Materials (NYSE:RYAM) Raised to Buy at StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, Royal Bank of Canada increased their target price 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 Stock Down 1.4 %

Shares of NYSE:RYAM opened at $9.21 on Friday. Rayonier Advanced Materials has a 1 year low of $3.02 and a 1 year high of $10.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The business’s 50-day moving average is $8.37 and its 200-day moving average is $6.76. The company has a market capitalization of $607.12 million, a price-to-earnings ratio of -7.20 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned ($0.41) earnings per share. Equities research analysts predict that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Rayonier Advanced Materials by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock worth $19,576,000 after purchasing an additional 201,939 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $16,334,000 after buying an additional 31,281 shares during the last quarter. Boston Partners increased 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 in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Rayonier Advanced Materials by 471.8% in the 1st 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, American Century Companies Inc. lifted its position 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 in 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.