Rayonier Advanced Materials (NYSE:RYAM) Upgraded by StockNews.com to Buy Rating

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

Separately, Royal Bank of Canada raised their target price on 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 %

RYAM stock traded down $0.13 during mid-day trading on Friday, reaching $9.21. 353,394 shares of the company traded hands, compared to its average volume of 541,297. The stock has a market cap of $607.12 million, a price-to-earnings ratio of -7.20 and a beta of 3.01. Rayonier Advanced Materials has a fifty-two week low of $3.02 and a fifty-two week high of $10.28. The firm’s 50 day moving average price is $8.37 and its 200 day moving average price is $6.76. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, topping the consensus estimate 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 business had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. As a group, equities research analysts predict that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in Rayonier Advanced Materials by 5.9% in 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 purchasing 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 1st 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 in the last quarter. Boston Partners lifted its holdings in shares of Rayonier Advanced Materials by 1,923.5% in the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after acquiring an additional 2,054,715 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Rayonier Advanced Materials by 471.8% in 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 buying an additional 1,648,101 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Rayonier Advanced Materials by 24.7% during the second 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. 68.64% of the stock is owned by institutional investors.

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.