Royal Bank Of Canada Has Lowered Expectations for Rayonier Advanced Materials (NYSE:RYAM) Stock Price

Rayonier Advanced Materials (NYSE:RYAM) had its price objective reduced by research analysts at Royal Bank Of Canada from $14.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 58.29% from the company’s current price.

RYAM has been the topic of several other reports. Zacks Research downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.00.

Rayonier Advanced Materials Stock Performance

Shares of NYSE RYAM opened at $8.21 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $553.88 million, a P/E ratio of -1.16 and a beta of 1.78. Rayonier Advanced Materials has a 12 month low of $3.35 and a 12 month high of $11.85. The stock has a 50 day moving average of $8.33 and a 200-day moving average of $8.81.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. The business had revenue of $319.06 million during the quarter, compared to the consensus estimate of $302.63 million. As a group, equities research analysts predict that Rayonier Advanced Materials will post -1.16 EPS for the current year.

Institutional Trading of Rayonier Advanced Materials

Several institutional investors have recently added to or reduced their stakes in the company. Irenic Capital Management LP acquired a new position in Rayonier Advanced Materials in the 1st quarter valued at $15,013,000. Quantinno Capital Management LP increased its position in Rayonier Advanced Materials by 10.7% during the 1st quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company’s stock worth $988,000 after buying an additional 8,596 shares during the period. SummitTX Capital L.P. acquired a new stake in shares of Rayonier Advanced Materials during the first quarter worth $2,341,000. Lazard Asset Management LLC acquired a new stake in shares of Rayonier Advanced Materials during the first quarter worth $2,150,000. Finally, Waverly Advisors LLC bought a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $1,298,000. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.