Rayonier Advanced Materials (NYSE:RYAM) Upgraded by StockNews.com to Hold

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

Several other research firms have also recently weighed in on RYAM. Bank of America cut their price target on Rayonier Advanced Materials from $4.40 to $4.00 in a report on Monday, July 10th. Royal Bank of Canada reduced their price target on Rayonier Advanced Materials from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Thursday, August 10th.

Check Out Our Latest Analysis on RYAM

Shares of NYSE:RYAM opened at $3.28 on Thursday. The company has a market cap of $214.32 million, a P/E ratio of 12.62 and a beta of 3.18. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.02. Rayonier Advanced Materials has a 1 year low of $2.84 and a 1 year high of $9.84. The stock's fifty day moving average price is $4.14 and its 200-day moving average price is $5.17.

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Rayonier Advanced Materials by 1,163.0% during the fourth quarter. Millennium Management LLC now owns 1,182,393 shares of the basic materials company's stock worth $11,351,000 after acquiring an additional 1,088,777 shares during the period. Invesco Ltd. lifted its holdings in shares of Rayonier Advanced Materials by 27.7% in the first quarter. Invesco Ltd. now owns 3,304,887 shares of the basic materials company's stock valued at $21,713,000 after purchasing an additional 717,466 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 49.2% in the second quarter. Acadian Asset Management LLC now owns 1,745,579 shares of the basic materials company's stock valued at $7,466,000 after purchasing an additional 575,947 shares in the last quarter. Ergoteles LLC lifted its holdings in shares of Rayonier Advanced Materials by 3,865.8% in the second quarter. Ergoteles LLC now owns 491,959 shares of the basic materials company's stock valued at $2,106,000 after purchasing an additional 479,554 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Rayonier Advanced Materials by 325.0% during the second quarter. AQR Capital Management LLC now owns 568,958 shares of the basic materials company's stock valued at $1,491,000 after buying an additional 435,095 shares during the period. 82.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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