Royal Bank Of Canada Raises Rayonier Advanced Materials (NYSE:RYAM) Price Target to $14.00

Rayonier Advanced Materials (NYSE:RYAM) had its price objective upped by research analysts at Royal Bank Of Canada from $9.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 32.83% from the stock’s previous close.

A number of other research firms also recently commented on RYAM. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Rayonier Advanced Materials Stock Performance

Shares of RYAM traded down $0.38 on Thursday, reaching $10.54. 338,259 shares of the stock traded hands, compared to its average volume of 1,055,559. The firm has a market cap of $706.24 million, a price-to-earnings ratio of -1.67 and a beta of 2.14. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.57 and a quick ratio of 0.89. Rayonier Advanced Materials has a 12 month low of $3.35 and a 12 month high of $11.05. The stock’s 50-day moving average price is $7.91 and its 200-day moving average price is $6.92.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.19). Rayonier Advanced Materials had a negative return on equity of 18.19% and a negative net margin of 28.65%.The firm had revenue of $417.00 million during the quarter, compared to the consensus estimate of $364.07 million. Equities analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Large investors have recently bought and sold shares of the business. American Century Companies Inc. raised its position in Rayonier Advanced Materials by 6.1% in the 3rd quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock valued at $19,646,000 after purchasing an additional 155,268 shares during the last quarter. Nantahala Capital Management LLC increased its stake in shares of Rayonier Advanced Materials by 252.6% in 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 buying an additional 1,289,490 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Rayonier Advanced Materials by 26.0% in 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. Acadian Asset Management LLC lifted its position in Rayonier Advanced Materials by 2.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,557,852 shares of the basic materials company’s stock worth $5,996,000 after buying an additional 36,298 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Rayonier Advanced Materials by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,548,346 shares of the basic materials company’s stock worth $9,122,000 after buying an additional 9,234 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

About Rayonier Advanced Materials

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.