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

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a buy rating in a research note published on Wednesday.

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

Rayonier Advanced Materials Trading Down 1.1 %

Shares of Rayonier Advanced Materials stock opened at $8.72 on Wednesday. The company’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $7.05. The company has a market cap of $574.82 million, a price-to-earnings ratio of -6.81 and a beta of 3.01. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials has a 1 year low of $3.02 and a 1 year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted ($0.41) earnings per share. As a group, sell-side analysts expect that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in Rayonier Advanced Materials in the second quarter worth $29,000. nVerses Capital LLC lifted its position 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 worth $61,000 after purchasing an additional 3,900 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Rayonier Advanced Materials in the second quarter worth $61,000. Truist Financial Corp bought a new position in Rayonier Advanced Materials in the second quarter worth $66,000. Finally, Intech Investment Management LLC bought a new position in Rayonier Advanced Materials in the third quarter worth $139,000. 68.64% of the stock is owned by institutional investors.

Rayonier Advanced Materials Company Profile

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.