Rayonier Advanced Materials (NYSE:RYAM – Free Report) had its price target boosted by Royal Bank of Canada from $9.00 to $10.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.
Separately, StockNews.com raised shares of Rayonier Advanced Materials from a hold rating to a buy rating in a research note on Thursday, August 8th.
Check Out Our Latest Research Report on Rayonier Advanced Materials
Rayonier Advanced Materials Trading Down 2.9 %
Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. As a group, analysts anticipate that Rayonier Advanced Materials will post -0.36 earnings per share for the current fiscal year.
Institutional Trading of Rayonier Advanced Materials
Several institutional investors and hedge funds have recently bought and sold shares of RYAM. Quarry LP acquired a new stake in Rayonier Advanced Materials during the 2nd quarter valued at $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials in the 2nd quarter valued at $61,000. Truist Financial Corp bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter valued at $66,000. Simplicity Wealth LLC acquired a new stake in shares of Rayonier Advanced Materials during the 1st quarter worth $59,000. Finally, Aristides Capital LLC acquired a new position in Rayonier Advanced Materials in the fourth quarter valued at about $69,000. Institutional investors own 68.64% of the company’s stock.
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.
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