Zacks Investment Research Upgrades Rayonier Advanced Materials (NYSE:RYAM) to Buy

Zacks Investment Research upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a sell rating to a buy rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has $5.00 target price on the basic materials company’s stock.

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. “

Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Rayonier Advanced Materials from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Bank of America lowered shares of Rayonier Advanced Materials from a buy rating to an underperform rating in a research report on Thursday, August 8th. Sidoti lowered shares of Rayonier Advanced Materials from a buy rating to a neutral rating in a research report on Thursday, August 8th. Berenberg Bank lowered shares of Rayonier Advanced Materials from a buy rating to a hold rating and dropped their price objective for the stock from $15.00 to $5.00 in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada set a $10.00 price objective on shares of Rayonier Advanced Materials and gave the stock a buy rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $9.50.

RYAM stock traded up $0.52 on Wednesday, hitting $4.35. 1,994,579 shares of the company were exchanged, compared to its average volume of 904,584. Rayonier Advanced Materials has a twelve month low of $2.50 and a twelve month high of $15.66. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.15 and a quick ratio of 1.09. The business’s fifty day moving average is $4.28 and its two-hundred day moving average is $5.94. The stock has a market capitalization of $174.97 million, a price-to-earnings ratio of 2.57 and a beta of 3.78.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.16). Rayonier Advanced Materials had a negative return on equity of 5.65% and a negative net margin of 1.99%. The company had revenue of $416.00 million for the quarter, compared to analyst estimates of $471.24 million. During the same period last year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. Equities research analysts expect that Rayonier Advanced Materials will post -0.95 earnings per share for the current year.

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In other Rayonier Advanced Materials news, CEO Paul G. Boynton acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of $3.63 per share, with a total value of $363,000.00. Following the completion of the transaction, the chief executive officer now directly owns 500,594 shares of the company’s stock, valued at $1,817,156.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.09% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in RYAM. Rockefeller Capital Management L.P. purchased a new position in shares of Rayonier Advanced Materials in the second quarter valued at $32,000. Bank of Montreal Can boosted its stake in shares of Rayonier Advanced Materials by 222.2% in the second quarter. Bank of Montreal Can now owns 7,044 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 4,858 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Rayonier Advanced Materials by 306.6% in the second quarter. Meeder Asset Management Inc. now owns 7,531 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 5,679 shares during the period. Strs Ohio purchased a new position in shares of Rayonier Advanced Materials in the third quarter valued at $51,000. Finally, Gabelli Funds LLC purchased a new position in shares of Rayonier Advanced Materials in the second quarter valued at $65,000. Institutional investors and hedge funds own 90.14% of the company’s stock.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper 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 cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.

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Analyst Recommendations for Rayonier Advanced Materials (NYSE:RYAM)

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