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

Rayonier Advanced Materials (NYSE:RYAM) had its price objective increased by equities research analysts at Royal Bank of Canada from $10.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 20.60% from the company’s current price.

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

Rayonier Advanced Materials Stock Performance

RYAM stock traded up $0.12 during trading hours on Thursday, hitting $9.95. 486,145 shares of the stock were exchanged, compared to its average volume of 536,185. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $655.61 million, a P/E ratio of -8.42 and a beta of 3.01. The company has a 50-day simple moving average of $8.09 and a two-hundred day simple moving average of $6.50. Rayonier Advanced Materials has a 12 month low of $2.98 and a 12 month high of $10.24.

Rayonier Advanced Materials (NYSE:RYAM) last posted 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 business had revenue of $401.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.41) earnings per share. On average, analysts forecast that Rayonier Advanced Materials will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its stake in shares of Rayonier Advanced Materials by 21.9% in the third quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock valued at $2,907,000 after buying an additional 61,054 shares during the period. Semanteon Capital Management LP acquired a new position in shares of Rayonier Advanced Materials in the third quarter valued at approximately $601,000. Assenagon Asset Management S.A. increased its stake in shares of Rayonier Advanced Materials by 226.8% in the third quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock valued at $2,782,000 after buying an additional 225,575 shares during the period. nVerses Capital LLC increased its stake in shares of Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after buying an additional 3,900 shares during the period. Finally, Creative Planning acquired a new position in shares of Rayonier Advanced Materials in the third quarter valued at approximately $220,000. 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.