Rayonier Advanced Materials (NYSE:RYAM) Lifted to “Buy” at Zacks Investment Research

Rayonier Advanced Materials (NYSE:RYAMGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $4.25 price target on the basic materials company’s stock. Zacks Investment Research‘s target price points to a potential upside of 17.73% from the company’s previous close.

According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “

A number of other brokerages have also recently issued reports on RYAM. StockNews.com started coverage on Rayonier Advanced Materials in a report on Thursday, March 31st. They issued a “hold” rating for the company. Royal Bank of Canada cut Rayonier Advanced Materials from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $8.00 to $6.00 in a report on Thursday, April 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.58.

Rayonier Advanced Materials stock opened at $3.61 on Thursday. Rayonier Advanced Materials has a 12 month low of $3.46 and a 12 month high of $8.32. The company has a quick ratio of 1.38, a current ratio of 1.97 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average price of $5.29 and a two-hundred day moving average price of $5.70. The stock has a market cap of $230.50 million, a price-to-earnings ratio of 3.44 and a beta of 3.30.

Rayonier Advanced Materials (NYSE:RYAMGet Rating) last issued its earnings results on Tuesday, May 3rd. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Rayonier Advanced Materials had a negative return on equity of 6.55% and a net margin of 4.72%. During the same period in the previous year, the firm posted ($0.43) earnings per share. On average, analysts expect that Rayonier Advanced Materials will post -0.72 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Rayonier Advanced Materials by 0.3% in the 1st quarter. BlackRock Inc. now owns 9,971,477 shares of the basic materials company’s stock valued at $65,513,000 after buying an additional 28,169 shares during the last quarter. Condire Management LP boosted its position in Rayonier Advanced Materials by 6.5% in the 4th quarter. Condire Management LP now owns 3,407,656 shares of the basic materials company’s stock valued at $19,458,000 after buying an additional 207,656 shares during the last quarter. Invesco Ltd. boosted its position in Rayonier Advanced Materials by 27.7% in the 1st quarter. Invesco Ltd. now owns 3,304,887 shares of the basic materials company’s stock valued at $21,713,000 after buying an additional 717,466 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Rayonier Advanced Materials by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,102,531 shares of the basic materials company’s stock valued at $20,383,000 after buying an additional 41,088 shares during the last quarter. Finally, DDD Partners LLC boosted its position in Rayonier Advanced Materials by 1.2% in the 1st quarter. DDD Partners LLC now owns 2,228,706 shares of the basic materials company’s stock valued at $14,643,000 after buying an additional 27,085 shares during the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile (Get Rating)

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. Its 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.

Recommended Stories

Get a free copy of the Zacks research report on Rayonier Advanced Materials (RYAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.