Wall Street Zen Upgrades Rayonier Advanced Materials (NYSE:RYAM) to “Hold”

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other brokerages have also recently issued reports on RYAM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rayonier Advanced Materials currently has an average rating of “Hold” and an average price target of $6.00.

Rayonier Advanced Materials Price Performance

Shares of Rayonier Advanced Materials stock opened at $7.77 on Friday. The business has a 50 day moving average of $7.36 and a 200 day moving average of $6.65. Rayonier Advanced Materials has a 52 week low of $3.35 and a 52 week high of $8.95. The company has a market cap of $520.33 million, a PE ratio of -1.24 and a beta of 2.22. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 2.26.

Institutional Investors Weigh In On Rayonier Advanced Materials

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nantahala Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 252.6% during the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock valued at $10,602,000 after purchasing an additional 1,289,490 shares in the last quarter. Millennium Management LLC grew its stake in shares of Rayonier Advanced Materials by 177.3% in the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock worth $9,817,000 after buying an additional 869,486 shares during the last quarter. UBS Group AG increased its position in Rayonier Advanced Materials by 156.9% during the 3rd quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock valued at $5,657,000 after buying an additional 478,500 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Rayonier Advanced Materials by 62.8% during the fourth quarter. JPMorgan Chase & Co. now owns 968,757 shares of the basic materials company’s stock valued at $5,706,000 after buying an additional 373,522 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Rayonier Advanced Materials by 26.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock valued at $9,942,000 after buying an additional 348,589 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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.