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

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

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

Rayonier Advanced Materials Trading Down 1.3 %

Shares of RYAM stock traded down $0.12 during trading on Friday, hitting $9.22. 353,393 shares of the stock traded hands, compared to its average volume of 541,297. Rayonier Advanced Materials has a 52-week low of $3.02 and a 52-week high of $10.28. The firm has a market capitalization of $607.45 million, a P/E ratio of -7.20 and a beta of 3.01. The firm’s fifty day moving average price is $8.34 and its 200-day moving average price is $6.73. 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 announced its quarterly earnings results 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 business had revenue of $401.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted ($0.41) EPS. As a group, research analysts forecast that Rayonier Advanced Materials will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

A number of institutional investors and hedge funds have recently bought and sold shares of RYAM. Quarry LP acquired a new position in shares of Rayonier Advanced Materials in the second quarter valued at approximately $29,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Rayonier Advanced Materials in the second quarter worth $61,000. nVerses Capital LLC grew 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 acquiring an additional 3,900 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Rayonier Advanced Materials during the second quarter worth $66,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Rayonier Advanced Materials in the first quarter valued at $100,000. 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.