Rayonier Advanced Materials (NYSE:RYAM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage currently has a $24.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 16.79% from the company’s previous close.

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. “

A number of other research firms also recently commented on RYAM. Vertical Research downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Thursday. TheStreet upgraded Rayonier Advanced Materials from a “c” rating to a “b” rating in a report on Wednesday, December 13th. ValuEngine downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Royal Bank of Canada restated a “buy” rating and set a $20.00 price objective on shares of Rayonier Advanced Materials in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.00.

Shares of Rayonier Advanced Materials (NYSE:RYAM) traded up $0.21 on Thursday, reaching $20.55. The company’s stock had a trading volume of 1,114,700 shares, compared to its average volume of 820,400. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.46 and a quick ratio of 1.20. The firm has a market cap of $996.84, a P/E ratio of 38.06, a PEG ratio of 2.31 and a beta of 4.41. Rayonier Advanced Materials has a 52 week low of $11.88 and a 52 week high of $20.99.

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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $210.00 million during the quarter, compared to the consensus estimate of $200.66 million. Rayonier Advanced Materials had a return on equity of 18.12% and a net margin of 4.98%. Rayonier Advanced Materials’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. research analysts anticipate that Rayonier Advanced Materials will post 0.61 earnings per share for the current year.

A number of large investors have recently bought and sold shares of RYAM. Renaissance Technologies LLC lifted its position in shares of Rayonier Advanced Materials by 22.0% during the second quarter. Renaissance Technologies LLC now owns 3,892,500 shares of the basic materials company’s stock worth $61,190,000 after purchasing an additional 701,200 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Rayonier Advanced Materials by 35.8% during the third quarter. Sterling Capital Management LLC now owns 1,956,940 shares of the basic materials company’s stock worth $26,810,000 after purchasing an additional 515,529 shares during the last quarter. Rubric Capital Management LP lifted its position in shares of Rayonier Advanced Materials by 170.9% during the third quarter. Rubric Capital Management LP now owns 1,714,864 shares of the basic materials company’s stock worth $23,494,000 after purchasing an additional 1,081,906 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Rayonier Advanced Materials by 7.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,637,500 shares of the basic materials company’s stock worth $22,434,000 after purchasing an additional 109,644 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Rayonier Advanced Materials by 5.2% during the second quarter. State Street Corp now owns 1,132,046 shares of the basic materials company’s stock worth $17,797,000 after purchasing an additional 56,453 shares during the last quarter. 95.15% of the stock is owned by institutional investors.

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Rayonier Advanced Materials Company Profile

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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Analyst Recommendations for Rayonier Advanced Materials (NYSE:RYAM)

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