Rayonier Advanced Materials (NYSE:RYAM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a buy rating in a report 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 company an “outperform” rating in a research report on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

NYSE RYAM opened at $8.72 on Wednesday. The company has a 50 day simple moving average of $8.58 and a 200-day simple moving average of $7.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The firm has a market capitalization of $574.82 million, a price-to-earnings ratio of -6.81 and a beta of 3.01. Rayonier Advanced Materials has a 52-week low of $3.02 and a 52-week high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.41) earnings per share. Equities research analysts predict that Rayonier Advanced Materials will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Rayonier Advanced Materials during the second quarter valued at approximately $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials during the second quarter valued at approximately $61,000. nVerses Capital LLC grew its holdings in Rayonier Advanced Materials by 121.9% during the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 3,900 shares during the last quarter. Truist Financial Corp acquired a new position in Rayonier Advanced Materials during the second quarter valued at approximately $66,000. Finally, Intech Investment Management LLC acquired a new position in Rayonier Advanced Materials during the third quarter valued at approximately $139,000. 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.