Brokerages Set Rayonier Advanced Materials Inc (NYSE:RYAM) Price Target at $18.00

Rayonier Advanced Materials Inc (NYSE:RYAM) has received a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $14.00.

A number of research firms have weighed in on RYAM. TheStreet downgraded shares of Rayonier Advanced Materials from a “b-” rating to a “c” rating in a research note on Monday, May 13th. DA Davidson cut their price target on shares of Rayonier Advanced Materials to $18.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Sidoti downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Zacks Investment Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada set a $10.00 price target on shares of Rayonier Advanced Materials and gave the stock a “buy” rating in a research note on Friday, August 9th.

NYSE RYAM traded down $0.20 during mid-day trading on Thursday, reaching $2.53. 1,353,400 shares of the stock were exchanged, compared to its average volume of 907,303. Rayonier Advanced Materials has a 1-year low of $2.50 and a 1-year high of $22.07. The firm’s fifty day simple moving average is $5.02. The firm has a market capitalization of $144.57 million, a PE ratio of 1.50 and a beta of 3.61. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.00 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Wednesday, August 7th. The basic materials company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.17). The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $497.01 million. Rayonier Advanced Materials had a return on equity of 1.70% and a net margin of 0.69%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, analysts forecast that Rayonier Advanced Materials will post -0.85 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. LSV Asset Management increased its stake in Rayonier Advanced Materials by 1.3% during the 1st quarter. LSV Asset Management now owns 1,823,208 shares of the basic materials company’s stock worth $24,722,000 after buying an additional 23,050 shares during the period. Norges Bank acquired a new position in Rayonier Advanced Materials during the 4th quarter worth $4,648,000. Raymond James Trust N.A. acquired a new position in Rayonier Advanced Materials during the 1st quarter worth $209,000. Hawkeye Capital Management LLC acquired a new position in Rayonier Advanced Materials during the 1st quarter worth $3,625,000. Finally, KBC Group NV acquired a new position in Rayonier Advanced Materials during the 2nd quarter worth $134,000. 99.90% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.

Recommended Story: What are the disadvantages of after-hours trading?

Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.