Rayonier Advanced Materials (NYSE:RYAM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Rayonier Advanced Materials (NYSE:RYAM) had its price target boosted by research analysts at Royal Bank of Canada from $10.00 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 20.60% from the company’s current price.

Separately, StockNews.com lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Wednesday.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM traded up $0.12 on Thursday, hitting $9.95. The stock had a trading volume of 486,145 shares, compared to its average volume of 536,185. The firm’s 50 day moving average price is $8.09 and its 200-day moving average price is $6.50. 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 has a twelve month low of $2.98 and a twelve month high of $10.24. The company has a market capitalization of $655.61 million, a price-to-earnings ratio of -8.42 and a beta of 3.01.

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 analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. During the same period in the prior year, the business posted ($0.41) EPS. On average, equities research analysts predict that Rayonier Advanced Materials will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of large investors have recently bought and sold shares of RYAM. nVerses Capital LLC raised its stake in shares of Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 3,900 shares in the last quarter. Quarry LP bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $61,000. Truist Financial Corp bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $66,000. Finally, Rhumbline Advisers raised its stake in shares of Rayonier Advanced Materials by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 149,490 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 18,754 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

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.