Zacks Investment Research Upgrades Rayonier Advanced Materials (RYAM) to Buy

Zacks Investment Research upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $23.00 price objective on the basic materials company’s stock.

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. “

RYAM has been the subject of a number of other research reports. ValuEngine lowered Rayonier Advanced Materials from a buy rating to a hold rating in a report on Tuesday, May 29th. Berenberg Bank started coverage on Rayonier Advanced Materials in a report on Thursday, July 12th. They set a buy rating and a $25.00 target price for the company. Six analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $23.25.

RYAM stock traded down $0.08 during mid-day trading on Wednesday, reaching $20.56. 3,447 shares of the company traded hands, compared to its average volume of 628,704. The company has a quick ratio of 1.15, a current ratio of 2.17 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $1.06 billion, a PE ratio of 21.15, a PEG ratio of 0.44 and a beta of 3.45. Rayonier Advanced Materials has a 52-week low of $13.31 and a 52-week high of $22.96.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.07. The business had revenue of $542.00 million during the quarter, compared to analyst estimates of $544.22 million. Rayonier Advanced Materials had a return on equity of 17.08% and a net margin of 23.97%. The company’s quarterly revenue was up 169.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. equities research analysts anticipate that Rayonier Advanced Materials will post 2.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, September 13th. Rayonier Advanced Materials’s payout ratio is presently 28.87%.

A number of hedge funds have recently bought and sold shares of RYAM. Gabelli Funds LLC purchased a new position in shares of Rayonier Advanced Materials during the first quarter worth about $208,000. A.R.T. Advisors LLC purchased a new position in shares of Rayonier Advanced Materials during the first quarter worth about $223,000. Sigma Planning Corp purchased a new position in shares of Rayonier Advanced Materials during the second quarter worth about $178,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Rayonier Advanced Materials during the second quarter worth about $188,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Rayonier Advanced Materials during the second quarter worth about $200,000. 98.76% 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, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, and Pulp & Paper 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 cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.

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