Royal Bank of Canada Has Lowered Expectations for Rayonier Advanced Materials (NYSE:RYAM) Stock Price

Rayonier Advanced Materials (NYSE:RYAM) had its price target lowered by research analysts at Royal Bank of Canada from $12.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 83.49% from the company’s current price.

Separately, StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Rayonier Advanced Materials Stock Down 2.8 %

Shares of Rayonier Advanced Materials stock opened at $6.00 on Friday. The firm has a market cap of $395.17 million, a price-to-earnings ratio of -4.68 and a beta of 3.02. 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 has a 52-week low of $3.71 and a 52-week high of $10.28. The stock has a 50-day simple moving average of $7.62 and a 200-day simple moving average of $8.01.

Insider Activity at Rayonier Advanced Materials

In related news, Director Eric Bowen acquired 12,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $8.04 per share, with a total value of $100,500.00. Following the purchase, the director now owns 12,500 shares of the company’s stock, valued at approximately $100,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC bought a new position in Rayonier Advanced Materials in the 4th quarter worth approximately $83,000. Entropy Technologies LP bought a new position in Rayonier Advanced Materials in the 4th quarter worth approximately $84,000. Townsquare Capital LLC bought a new position in Rayonier Advanced Materials in the 4th quarter worth approximately $85,000. Walleye Capital LLC bought a new position in Rayonier Advanced Materials in the 4th quarter worth approximately $113,000. Finally, Hsbc Holdings PLC increased its position in Rayonier Advanced Materials by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock worth $117,000 after buying an additional 3,852 shares during the period. 68.64% of the stock is owned by 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.