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

Rayonier Advanced Materials (NYSE:RYAM) had its target price hoisted by Royal Bank of Canada from $9.00 to $10.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Separately, StockNews.com upgraded shares of Rayonier Advanced Materials from a hold rating to a buy rating in a report on Thursday, August 8th.

Rayonier Advanced Materials Price Performance

Rayonier Advanced Materials stock opened at $8.07 on Thursday. Rayonier Advanced Materials has a 1 year low of $2.66 and a 1 year high of $8.39. The firm has a 50 day moving average price of $7.04 and a 200 day moving average price of $5.60. The company has a market cap of $529.20 million, a price-to-earnings ratio of -5.01 and a beta of 3.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69.

Rayonier Advanced Materials (NYSE:RYAM) last released 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 net margin of 4.82% and a negative return on equity of 3.96%. The firm had revenue of $419.00 million during the quarter, compared to the consensus estimate of $407.10 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. Sell-side analysts predict that Rayonier Advanced Materials will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors have recently bought and sold shares of RYAM. Panagora Asset Management Inc. purchased a new stake in Rayonier Advanced Materials during the fourth quarter worth approximately $367,000. Aristides Capital LLC purchased a new stake in Rayonier Advanced Materials during the fourth quarter worth approximately $69,000. CastleKnight Management LP grew its stake in 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. Simplicity Wealth LLC purchased a new position in shares of Rayonier Advanced Materials in the first quarter valued at $59,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Rayonier Advanced Materials in the first quarter valued at $159,000. 68.64% of the stock is currently owned by hedge funds and other 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.