Rayonier Advanced Materials (NYSE:RYAM) Upgraded at StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Royal Bank of Canada increased their price target on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Stock Performance

NYSE RYAM traded down $0.10 during trading on Wednesday, hitting $8.72. 323,777 shares of the company’s stock traded hands, compared to its average volume of 535,573. The stock has a market capitalization of $574.82 million, a price-to-earnings ratio of -6.81 and a beta of 3.01. Rayonier Advanced Materials has a 12-month low of $3.02 and a 12-month 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. The business has a 50 day moving average of $8.58 and a 200-day moving average of $7.05.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same period in the prior year, the firm earned ($0.41) earnings per share. As a group, equities research analysts anticipate that Rayonier Advanced Materials will post -0.08 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 bought and sold shares of the stock. Quarry LP bought a new position in Rayonier Advanced Materials during the second quarter valued at approximately $29,000. nVerses Capital LLC grew its holdings in shares of Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 3,900 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Rayonier Advanced Materials in the second quarter worth approximately $61,000. Truist Financial Corp bought a new position in shares of Rayonier Advanced Materials in the second quarter worth approximately $66,000. Finally, Intech Investment Management LLC bought a new position in shares of Rayonier Advanced Materials in the third quarter worth approximately $139,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

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.