Rayonier Advanced Materials (NYSE:RYAM) Given New $13.00 Price Target at Royal Bank Of Canada

Rayonier Advanced Materials (NYSE:RYAM) had its price objective decreased by Royal Bank Of Canada from $14.00 to $13.00 in a research report report published on Friday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $13.00.

Rayonier Advanced Materials Price Performance

NYSE RYAM opened at $8.21 on Friday. Rayonier Advanced Materials has a fifty-two week low of $3.35 and a fifty-two week high of $11.85. The stock’s 50-day moving average is $8.33 and its two-hundred day moving average is $8.81. The firm has a market cap of $553.88 million, a P/E ratio of -1.16 and a beta of 1.78. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). The company had revenue of $319.06 million for the quarter, compared to the consensus estimate of $302.63 million. Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%. On average, analysts anticipate that Rayonier Advanced Materials will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently made changes to their positions in RYAM. Irenic Capital Management LP acquired a new stake in shares of Rayonier Advanced Materials during the 1st quarter worth approximately $15,013,000. Quantinno Capital Management LP lifted its stake in Rayonier Advanced Materials by 10.7% in the first quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company’s stock valued at $988,000 after buying an additional 8,596 shares during the period. SummitTX Capital L.P. acquired a new position in shares of Rayonier Advanced Materials during the 1st quarter worth about $2,341,000. Lazard Asset Management LLC bought a new stake in shares of Rayonier Advanced Materials in the 1st quarter valued at about $2,150,000. Finally, Waverly Advisors LLC bought a new position in Rayonier Advanced Materials during the 1st quarter worth approximately $1,298,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Rayonier Advanced Materials Company Profile

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.