Royal Bank Of Canada reissued their buy rating on shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in a research note released on Friday morning. The brokerage currently has a $20.00 target price on the basic materials company’s stock.
Several other research analysts have also recently weighed in on the stock. Sidoti assumed coverage on shares of Rayonier Advanced Materials in a report on Thursday, August 17th. They issued a buy rating and a $19.00 price target on the stock. BidaskClub cut shares of Rayonier Advanced Materials from a sell rating to a strong sell rating in a report on Tuesday, August 8th. Zacks Investment Research cut shares of Rayonier Advanced Materials from a hold rating to a strong sell rating in a report on Tuesday, August 8th. ValuEngine upgraded shares of Rayonier Advanced Materials from a hold rating to a buy rating in a research report on Monday, August 7th. Finally, Vertical Group upgraded shares of Rayonier Advanced Materials from a hold rating to a buy rating and increased their target price for the stock from $18.00 to $19.00 in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. Rayonier Advanced Materials currently has a consensus rating of Buy and an average price target of $18.83.
Rayonier Advanced Materials (RYAM) traded up $2.63 during trading on Friday, reaching $16.86. 2,193,742 shares of the company’s stock traded hands, compared to its average volume of 604,564. The stock has a market capitalization of $666.46 million, a P/E ratio of 24.84, a PEG ratio of 6.84 and a beta of 4.27. The company has a debt-to-equity ratio of 2.19, a quick ratio of 3.00 and a current ratio of 1.46.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $200.66 million. Rayonier Advanced Materials had a net margin of 4.98% and a return on equity of 18.12%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. research analysts predict that Rayonier Advanced Materials will post 0.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.66%. Rayonier Advanced Materials’s payout ratio is presently 43.75%.
In other news, Director Delyle W. Bloomquist purchased 5,600 shares of Rayonier Advanced Materials stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $13.48 per share, for a total transaction of $75,488.00. Following the transaction, the director now owns 27,904 shares of the company’s stock, valued at approximately $376,145.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.06% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RYAM. PNC Financial Services Group Inc. boosted its position in shares of Rayonier Advanced Materials by 6.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,946 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 399 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Rayonier Advanced Materials by 77.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,482 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 3,702 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth approximately $146,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth approximately $176,000. Finally, GW&K Investment Management LLC acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $181,000. Institutional investors and hedge funds own 93.30% of the company’s stock.
About Rayonier Advanced Materials
Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.
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