Rayonier Advanced Materials (NYSE:RYAM) Upgraded at Zacks Investment Research

Rayonier Advanced Materials (NYSE:RYAMGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “

RYAM has been the topic of several other reports. StockNews.com assumed coverage on Rayonier Advanced Materials in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Royal Bank of Canada downgraded Rayonier Advanced Materials from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $8.00 to $6.00 in a research report on Thursday, April 7th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.67.

Shares of RYAM stock opened at $4.86 on Tuesday. The business’s fifty day simple moving average is $6.00. The firm has a market capitalization of $310.26 million, a P/E ratio of 4.81 and a beta of 3.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.54 and a current ratio of 2.19. Rayonier Advanced Materials has a 12-month low of $4.55 and a 12-month high of $9.57.

Rayonier Advanced Materials (NYSE:RYAMGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The basic materials company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.23). Rayonier Advanced Materials had a negative return on equity of 7.22% and a net margin of 4.25%. The business had revenue of $374.00 million for the quarter. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts forecast that Rayonier Advanced Materials will post -0.95 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Pictet Asset Management SA boosted its holdings in Rayonier Advanced Materials by 0.4% in the fourth quarter. Pictet Asset Management SA now owns 1,063,904 shares of the basic materials company’s stock valued at $6,075,000 after purchasing an additional 4,347 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in Rayonier Advanced Materials by 3.9% in the first quarter. Game Plan Financial Advisors LLC now owns 120,000 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 4,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rayonier Advanced Materials by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,705 shares of the basic materials company’s stock valued at $1,329,000 after purchasing an additional 4,528 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Rayonier Advanced Materials in the fourth quarter valued at $27,000. Finally, D.A. Davidson & CO. boosted its holdings in Rayonier Advanced Materials by 5.4% in the fourth quarter. D.A. Davidson & CO. now owns 95,340 shares of the basic materials company’s stock valued at $544,000 after purchasing an additional 4,875 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Company Profile (Get Rating)

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp 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 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.

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