Rayonier Advanced Materials (NYSE:RYAM) Upgraded to “Buy” at StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, Royal Bank of Canada increased their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Rayonier Advanced Materials Stock Performance

RYAM stock traded down $0.29 during trading on Monday, reaching $7.72. 330,097 shares of the company’s stock were exchanged, compared to its average volume of 377,005. Rayonier Advanced Materials has a 1-year low of $3.15 and a 1-year high of $10.28. The company’s fifty day moving average price is $8.02 and its 200-day moving average price is $7.90. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The firm has a market cap of $508.57 million, a PE ratio of -6.03 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same period in the previous year, the firm earned ($0.41) EPS. On average, research analysts expect that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric Bowen purchased 12,500 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director now directly owns 12,500 shares of the company’s stock, valued at $100,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RYAM. Horizon Kinetics Asset Management LLC lifted its holdings in Rayonier Advanced Materials by 100.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock valued at $2,000,000 after purchasing an additional 117,000 shares during the last quarter. Empowered Funds LLC lifted its holdings in Rayonier Advanced Materials by 21.9% during the 3rd quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock worth $2,907,000 after buying an additional 61,054 shares during the period. Jane Street Group LLC grew its stake in Rayonier Advanced Materials by 176.2% during the third quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company’s stock worth $1,495,000 after purchasing an additional 111,440 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Rayonier Advanced Materials in the second quarter valued at $632,000. Finally, JPMorgan Chase & Co. raised its stake in Rayonier Advanced Materials by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock worth $4,288,000 after buying an additional 306,640 shares during the period. 68.64% of the stock is currently 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.