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

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a buy rating in a report released on Friday.

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

Rayonier Advanced Materials Price Performance

RYAM opened at $9.21 on Friday. The company has a market capitalization of $607.09 million, a price-to-earnings ratio of -7.20 and a beta of 3.01. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $8.37 and a 200-day moving average price of $6.78. Rayonier Advanced Materials has a twelve month low of $3.02 and a twelve month high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last issued 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 company had revenue of $401.00 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($0.41) earnings per share. Equities analysts expect that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RYAM. Quarry LP purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $29,000. nVerses Capital LLC boosted its stake in 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 valued at $61,000 after acquiring an additional 3,900 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Rayonier Advanced Materials during the 2nd quarter worth $61,000. Truist Financial Corp acquired a new position in shares of Rayonier Advanced Materials during the second quarter valued at about $66,000. Finally, Intech Investment Management LLC acquired a new position in shares of Rayonier Advanced Materials during the third quarter valued at about $139,000. 68.64% of the stock is currently owned by 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.