Rayonier Advanced Materials (NYSE:RYAM) PT Raised to $10.00

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

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

Rayonier Advanced Materials Trading Up 4.4 %

Shares of Rayonier Advanced Materials stock traded up $0.34 during trading on Thursday, reaching $8.14. 113,247 shares of the company were exchanged, compared to its average volume of 521,537. 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 twelve month low of $2.66 and a twelve month high of $8.29. The business has a 50-day moving average price of $6.93 and a 200-day moving average price of $5.54. The firm 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 posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $407.10 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. Sell-side analysts anticipate that Rayonier Advanced Materials will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted 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 buying an additional 201,939 shares during the period. Vanguard Group Inc. boosted 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 buying an additional 31,281 shares during the period. Boston Partners boosted 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 buying an additional 2,054,715 shares during the period. Russell Investments Group Ltd. boosted 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 buying an additional 1,648,101 shares during the period. Finally, CastleKnight Management LP boosted 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 buying an additional 1,790,257 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.

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.