Rayonier Advanced Materials (NYSE:RYAM) Raised to “Buy” at StockNews.com

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

Shares of RYAM stock opened at $9.21 on Friday. Rayonier Advanced Materials has a one year low of $3.02 and a one year high of $10.28. The company has a market cap of $607.12 million, a P/E ratio of -7.20 and a beta of 3.01. The firm has a 50-day moving average of $8.37 and a 200-day moving average of $6.76. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period last year, the business posted ($0.41) earnings per share. Equities research analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Rayonier Advanced Materials in the 2nd quarter valued at about $29,000. nVerses Capital LLC increased its stake 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 in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $61,000. Truist Financial Corp purchased a new stake in shares of Rayonier Advanced Materials during the 2nd quarter valued at approximately $66,000. Finally, Intech Investment Management LLC bought a new position in Rayonier Advanced Materials in the 3rd quarter worth approximately $139,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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.