StockNews.com Upgrades Rayonier Advanced Materials (NYSE:RYAM) to "Buy"

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.

Separately, Royal Bank of Canada dropped their price target on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, March 7th.

Rayonier Advanced Materials Stock Performance

Shares of NYSE:RYAM traded down $0.11 during midday trading on Thursday, reaching $4.79. 274,669 shares of the company's stock traded hands, compared to its average volume of 513,507. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. Rayonier Advanced Materials has a one year low of $3.72 and a one year high of $10.28. The company has a market cap of $319.74 million, a price-to-earnings ratio of -3.71 and a beta of 2.86. The stock has a 50 day moving average of $6.59 and a 200 day moving average of $7.69.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ieq Capital LLC purchased a new stake in Rayonier Advanced Materials during the fourth quarter valued at $83,000. Entropy Technologies LP purchased a new stake in shares of Rayonier Advanced Materials during the 4th quarter valued at about $84,000. Townsquare Capital LLC bought a new position in shares of Rayonier Advanced Materials in the 4th quarter worth approximately $85,000. Walleye Capital LLC bought a new position in shares of Rayonier Advanced Materials in the 4th quarter worth approximately $113,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock worth $117,000 after buying an additional 3,852 shares during the last quarter. 68.64% of the stock is owned by institutional investors.

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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.