Rayonier Advanced Materials (NYSE:RYAM) Given New $12.00 Price Target at Royal Bank of Canada

Rayonier Advanced Materials (NYSE:RYAM) had its target price increased by Royal Bank of Canada from $10.00 to $12.00 in a report released on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

Separately, StockNews.com lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Wednesday.

Rayonier Advanced Materials Stock Up 0.4 %

Shares of NYSE:RYAM traded up $0.04 on Thursday, reaching $10.04. 427,346 shares of the company’s stock were exchanged, compared to its average volume of 538,258. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average is $8.14 and its two-hundred day moving average is $6.53. Rayonier Advanced Materials has a fifty-two week low of $3.02 and a fifty-two week high of $10.24.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period last year, the company posted ($0.41) EPS. As a group, equities analysts predict that Rayonier Advanced Materials will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RYAM. Quest Partners LLC bought a new stake in shares of Rayonier Advanced Materials during the third quarter worth approximately $166,000. Empowered Funds LLC grew its stake in shares of Rayonier Advanced Materials by 21.9% in the third quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock worth $2,907,000 after purchasing an additional 61,054 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in shares of Rayonier Advanced Materials in the third quarter valued at about $601,000. Assenagon Asset Management S.A. boosted its position in shares of Rayonier Advanced Materials by 226.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock valued at $2,782,000 after purchasing an additional 225,575 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 3,900 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.