Rayonier Advanced Materials (NYSE:RYAM) Stock Rating Upgraded by Wall Street Zen

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Rayonier Advanced Materials Stock Performance

Shares of NYSE RYAM opened at $7.77 on Friday. The firm has a 50 day moving average of $7.36 and a 200 day moving average of $6.68. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $520.33 million, a price-to-earnings ratio of -1.24 and a beta of 2.22. Rayonier Advanced Materials has a 12-month low of $3.35 and a 12-month high of $8.95.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in shares of Rayonier Advanced Materials by 754.4% during the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after buying an additional 7,031 shares during the last quarter. Tactive Advisors LLC purchased a new position in Rayonier Advanced Materials during the third quarter valued at $82,000. Covestor Ltd increased its holdings in Rayonier Advanced Materials by 46.7% in the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 3,636 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth $76,000. Finally, Quadrature Capital Ltd purchased a new stake in Rayonier Advanced Materials in the 2nd quarter worth $52,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

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.