Royal Bank Of Canada Cuts Rayonier Advanced Materials (NYSE:RYAM) Price Target to $13.00

Rayonier Advanced Materials (NYSE:RYAM) had its price objective cut by Royal Bank Of Canada from $14.00 to $13.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Several other analysts also recently commented on RYAM. Wall Street Zen downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Rayonier Advanced Materials currently has a consensus rating of “Reduce” and a consensus price target of $13.00.

Rayonier Advanced Materials Trading Down 0.2%

Shares of NYSE:RYAM opened at $8.21 on Friday. Rayonier Advanced Materials has a 52-week low of $3.35 and a 52-week high of $11.85. The stock has a market cap of $553.88 million, a price-to-earnings ratio of -1.16 and a beta of 1.78. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21. The business has a 50-day moving average price of $8.33 and a 200-day moving average price of $8.83.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%.The firm had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. Equities analysts predict that Rayonier Advanced Materials will post -1.16 EPS for the current year.

Institutional Trading of Rayonier Advanced Materials

Several institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of Rayonier Advanced Materials by 754.4% during the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 7,031 shares in the last quarter. Graham Capital Management L.P. purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at about $76,000. Tactive Advisors LLC lifted its stake in Rayonier Advanced Materials by 18.0% in the 4th quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock valued at $78,000 after buying an additional 2,032 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Rayonier Advanced Materials in the 4th quarter worth about $86,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Rayonier Advanced Materials in the 4th quarter worth about $117,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.