Royal Bank of Canada Cuts Rayonier Advanced Materials (NYSE:RYAM) Price Target to $11.00

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) had its target price decreased by research analysts at Royal Bank of Canada from $12.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the basic materials company's stock. Royal Bank of Canada's target price suggests a potential upside of 83.49% from the stock's current price.

Separately, StockNews.com raised Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd.

Rayonier Advanced Materials Stock Down 2.8 %

Rayonier Advanced Materials stock traded down $0.18 during midday trading on Friday, hitting $6.00. 985,489 shares of the company were exchanged, compared to its average volume of 448,484. The company's fifty day moving average price is $7.62 and its 200-day moving average price is $8.01. The company has a market cap of $395.17 million, a PE ratio of -4.68 and a beta of 3.02. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. Rayonier Advanced Materials has a fifty-two week low of $3.71 and a fifty-two week high of $10.28.

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Insider Buying and Selling at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen bought 12,500 shares of the business's stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $8.04 per share, with a total value of $100,500.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $100,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently made changes to their positions in the company. Ieq Capital LLC bought a new stake in shares of Rayonier Advanced Materials in the 4th quarter valued at approximately $83,000. Entropy Technologies LP bought a new stake in shares of Rayonier Advanced Materials in the 4th quarter valued at approximately $84,000. Townsquare Capital LLC bought a new stake in shares of Rayonier Advanced Materials in the 4th quarter valued at approximately $85,000. Walleye Capital LLC bought a new stake in shares of Rayonier Advanced Materials in the 4th quarter valued at approximately $113,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Rayonier Advanced Materials by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock valued at $117,000 after acquiring an additional 3,852 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Company Profile

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.