Fintel reports that on September 8, 2023, RBC Capital reiterated coverage of Rayonier Advanced Materials (NYSE:RYAM) with a Outperform recommendation.
Analyst Price Forecast Suggests 94.90% Upside
As of August 31, 2023, the average one-year price target for Rayonier Advanced Materials is 6.12. The forecasts range from a low of 6.06 to a high of $6.30. The average price target represents an increase of 94.90% from its latest reported closing price of 3.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rayonier Advanced Materials is 1,656MM, a decrease of 8.94%. The projected annual non-GAAP EPS is -0.11.
What is the Fund Sentiment?
There are 345 funds or institutions reporting positions in Rayonier Advanced Materials. This is a decrease of 36 owner(s) or 9.45% in the last quarter. Average portfolio weight of all funds dedicated to RYAM is 0.06%, a decrease of 7.92%. Total shares owned by institutions decreased in the last three months by 2.42% to 57,626K shares. 
The put/call ratio of RYAM is 7.84, indicating a bearish outlook.
What are Other Shareholders Doing?
Condire Management holds 6,224K shares representing 9.53% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 2,393K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 2,254K shares, representing an increase of 5.83%. The firm decreased its portfolio allocation in RYAM by 21.28% over the last quarter.
Millennium Management holds 2,366K shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 1,459K shares, representing an increase of 38.32%. The firm decreased its portfolio allocation in RYAM by 4.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,022K shares representing 3.09% ownership of the company. No change in the last quarter.
DDD Partners holds 1,844K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 1,842K shares, representing an increase of 0.11%. The firm decreased its portfolio allocation in RYAM by 39.30% over the last quarter.
Rayonier Advanced Materials Background Information
(This description is provided by the company.)
Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for lumber, paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs approximately 4,000 people and generates approximately $1.7 billion of revenues.
Additional reading:
- RYAM Announces Second Quarter 2023 Results Updates 2023 EBITDA and Raises Free Cash Flow Guidance
- U.S. $250,000,000 TERM LOAN CREDIT AGREEMENT Dated as of July 20, 2023 RYAM LUX SARL, as Borrower, THE GUARANTORS FROM TIME TO TIME PARTY HERETO, THE LENDERS FROM TIME TO TIME PARTY HERETO, OAKTREE FUND ADMINISTRATION, LLC, as Administrative Agent CO
- LOAN AGREEMENT by and among RAYONIER ADVANCED MATERIALS INC., as the Company, RYAM LUX SARL, as the Lender, the GUARANTORS party hereto Dated as of July 20, 2023
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