Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) had its price target hoisted by Royal Bank of Canada from $7.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 26.58% from the stock’s previous close.
Separately, StockNews.com upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, April 22nd.
Read Our Latest Research Report on RYAM
Rayonier Advanced Materials Trading Down 4.9 %
Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last issued its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The company had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. As a group, analysts anticipate that Rayonier Advanced Materials will post -0.34 EPS for the current year.
Institutional Investors Weigh In On Rayonier Advanced Materials
Institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC purchased a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at about $47,000. Simplicity Solutions LLC acquired a new position in Rayonier Advanced Materials in the fourth quarter valued at approximately $47,000. Stratos Wealth Partners LTD. purchased a new position in Rayonier Advanced Materials in the fourth quarter valued at approximately $54,000. Tower Research Capital LLC TRC raised its holdings in Rayonier Advanced Materials by 64.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,396 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 5,633 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in Rayonier Advanced Materials during the first quarter worth approximately $59,000. 68.64% of the stock is owned by institutional investors and hedge funds.
Rayonier Advanced Materials Company Profile
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.
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