Rayonier Advanced Materials (NYSE:RYAM) Price Target Raised to $14.00

Rayonier Advanced Materials (NYSE:RYAM) had its price target upped by Royal Bank Of Canada from $9.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Trading Down 2.0%

Shares of Rayonier Advanced Materials stock opened at $9.98 on Thursday. The business has a 50-day moving average price of $8.08 and a 200-day moving average price of $6.99. The company has a quick ratio of 0.89, a current ratio of 1.58 and a debt-to-equity ratio of 2.39. The firm has a market cap of $668.76 million, a price-to-earnings ratio of -1.58 and a beta of 2.14. Rayonier Advanced Materials has a twelve month low of $3.35 and a twelve month high of $11.05.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19). Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%.The firm had revenue of $417.55 million for the quarter, compared to analysts’ expectations of $364.07 million. Equities research analysts anticipate that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $126,000. Numerai GP LLC purchased a new position in Rayonier Advanced Materials in the fourth quarter worth $418,000. Cinctive Capital Management LP purchased a new stake in shares of Rayonier Advanced Materials during the 4th quarter worth $187,000. Balyasny Asset Management L.P. acquired a new position in shares of Rayonier Advanced Materials during the 4th quarter worth $117,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Rayonier Advanced Materials by 13.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,121 shares of the basic materials company’s stock valued at $231,000 after purchasing an additional 4,714 shares during the period. Institutional investors and hedge funds 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.