Rayonier Advanced Materials Inc. (RYAM) Receives Buy Rating from Royal Bank Of Canada
Rayonier Advanced Materials Inc. (NYSE:RYAM)‘s stock had its “buy” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued on Friday. They currently have a $20.00 price objective on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 18.62% from the company’s previous close.
Several other equities research analysts have also recently weighed in on RYAM. Sidoti assumed coverage on Rayonier Advanced Materials in a research note on Thursday, August 17th. They issued a “buy” rating and a $19.00 price target on the stock. BidaskClub cut Rayonier Advanced Materials from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. ValuEngine raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Finally, Vertical Group raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating and upped their price target for the company from $18.00 to $19.00 in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $18.83.
Shares of Rayonier Advanced Materials (RYAM) traded up $2.63 during trading hours on Friday, reaching $16.86. The company’s stock had a trading volume of 2,193,742 shares, compared to its average volume of 604,564. The firm has a market capitalization of $666.46 million, a P/E ratio of 24.84, a PEG ratio of 6.84 and a beta of 4.27. The company has a debt-to-equity ratio of 2.19, a quick ratio of 3.00 and a current ratio of 1.46.
Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Rayonier Advanced Materials had a return on equity of 18.12% and a net margin of 4.98%. The firm had revenue of $210.00 million during the quarter, compared to the consensus estimate of $200.66 million. During the same quarter last year, the company posted $0.44 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts anticipate that Rayonier Advanced Materials will post 0.45 earnings per share for the current year.
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In other Rayonier Advanced Materials news, Director Delyle W. Bloomquist bought 5,600 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $13.48 per share, for a total transaction of $75,488.00. Following the completion of the transaction, the director now owns 27,904 shares of the company’s stock, valued at approximately $376,145.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.06% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $105,000. PNC Financial Services Group Inc. lifted its stake in shares of Rayonier Advanced Materials by 6.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,946 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 399 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth approximately $114,000. Mason Street Advisors LLC bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $115,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Rayonier Advanced Materials by 13.7% during the 1st quarter. Squarepoint Ops LLC now owns 12,592 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 1,513 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.
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.
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