Rayonier Advanced Materials (NYSE:RYAM) Price Target Raised to $12.00

Rayonier Advanced Materials (NYSE:RYAM) had its price objective hoisted by Royal Bank of Canada from $10.00 to $12.00 in a research report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

Separately, StockNews.com cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Wednesday.

Rayonier Advanced Materials Stock Down 0.4 %

RYAM stock opened at $9.96 on Thursday. The stock has a market capitalization of $656.52 million, a P/E ratio of -7.78 and a beta of 3.01. Rayonier Advanced Materials has a 52 week low of $3.02 and a 52 week high of $10.24. The firm has a 50-day simple moving average of $8.18 and a 200-day simple moving average of $6.57. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. During the same quarter last year, the business posted ($0.41) earnings per share. Equities analysts forecast that Rayonier Advanced Materials will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Several large investors have recently added to or reduced their stakes in RYAM. Dimensional Fund Advisors LP boosted its position in shares of Rayonier Advanced Materials by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock valued at $19,576,000 after acquiring an additional 201,939 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Rayonier Advanced Materials by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock valued at $16,334,000 after purchasing an additional 31,281 shares during the last quarter. Boston Partners grew its stake in shares of Rayonier Advanced Materials by 1,923.5% in the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after buying an additional 2,054,715 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Rayonier Advanced Materials by 471.8% during the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after buying an additional 1,648,101 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Rayonier Advanced Materials by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock valued at $8,248,000 after buying an additional 300,793 shares during the period. 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.