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

Rayonier Advanced Materials (NYSE:RYAM) had its price target dropped by stock analysts at Royal Bank Of Canada from $14.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 59.12% from the stock’s previous close.

RYAM has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Rayonier Advanced Materials presently has an average rating of “Reduce” and an average price target of $13.00.

Rayonier Advanced Materials Stock Performance

Shares of NYSE RYAM traded up $0.02 during midday trading on Friday, hitting $8.17. 351,493 shares of the stock traded hands, compared to its average volume of 1,053,181. The firm has a market capitalization of $550.98 million, a P/E ratio of -1.16 and a beta of 1.78. Rayonier Advanced Materials has a one year low of $3.35 and a one year high of $11.85. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. The firm has a 50-day moving average of $8.34 and a two-hundred day moving average of $8.82.

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

Institutional Investors Weigh In On Rayonier Advanced Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 7,031 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter valued at $76,000. Tactive Advisors LLC boosted its holdings in Rayonier Advanced Materials by 18.0% in the 4th quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after buying an additional 2,032 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Rayonier Advanced Materials in the 4th quarter worth $86,000. Finally, Ancora Advisors LLC purchased a new stake in Rayonier Advanced Materials in the 3rd quarter worth $138,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

About Rayonier Advanced Materials

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.