Rayonier Advanced Materials Inc. (NYSE:RYAM)‘s stock had its “buy” rating restated by investment analysts at Royal Bank Of Canada in a research note issued on Friday. They presently have a $18.00 price target on the basic materials company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 25.79% from the stock’s current price.

A number of other research firms have also recently weighed in on RYAM. Sidoti initiated coverage on shares of Rayonier Advanced Materials in a report on Thursday, August 17th. They issued a “buy” rating and a $19.00 price objective on the stock. ValuEngine raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Zacks Investment Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, July 20th. Vertical Group raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $19.00 in a report on Tuesday, July 25th. Finally, Vertical Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.50.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.15). The business had revenue of $201.00 million for the quarter, compared to analyst estimates of $214.00 million. Rayonier Advanced Materials had a return on equity of 24.17% and a net margin of 5.71%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share.

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In other news, Director Delyle W. Bloomquist acquired 5,600 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $13.48 per share, with a total value of $75,488.00. Following the acquisition, the director now directly owns 27,904 shares in the company, valued at $376,145.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.06% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Rayonier Advanced Materials by 15.9% in the 1st quarter. State Street Corp now owns 1,075,593 shares of the basic materials company’s stock worth $14,465,000 after acquiring an additional 147,343 shares during the period. Federated Investors Inc. PA increased its holdings in shares of Rayonier Advanced Materials by 43.4% in the 2nd quarter. Federated Investors Inc. PA now owns 116,550 shares of the basic materials company’s stock worth $1,832,000 after acquiring an additional 35,272 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Rayonier Advanced Materials in the 1st quarter worth about $370,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Rayonier Advanced Materials by 47.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,230 shares of the basic materials company’s stock worth $3,793,000 after acquiring an additional 77,993 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth about $1,013,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.

Analyst Recommendations for Rayonier Advanced Materials (NYSE:RYAM)

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