Rayonier Advanced Materials Inc (RYAM) is Reiterated by DA Davidson to Buy, Raises Price Target to $ 25

Rayonier Advanced Materials Inc (RYAM) was Reiterated by DA Davidson to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 25 from a previous price target of $17.50 . DA Davidson advised their investors in a research report released on Aug 3, 2016.

On the company’s financial health, Rayonier Advanced Materials Inc reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.27. The company had revenue of $214.00 million for the quarter, compared to analysts expectations of $214.90 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.

Rayonier Advanced Materials Inc opened for trading at $14.3 and hit $14.94 on the upside on Tusday, eventually ending the session at $14.42, with a gain of 6.97% or 0.94 points. The heightened volatility saw the trading volume jump to 13,17,418 shares. Company has a market cap of $624 M.

Investors should note that on Jul 22, 2016, Rayonier Advanced Materials Inc announced a cash dividend of $0.0700. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

In a different news, on Sep 3, 2015, Lisa M Palumbo (director) purchased 5,000 shares at $5.94 per share price. According to the SEC, on Aug 26, 2015, Frank A Ruperto (CFO) purchased 5,000 shares at $6.61 per share price. On Aug 26, 2015, Paul G Boynton (CEO) purchased 15,000 shares at $6.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Rayonier Advanced Materials Inc. (Rayonier Advanced Materials) is primarily engaged in producing cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Cellulose specialties are polymers used as raw materials to manufacture 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. Commodity products include commodity viscose and absorbent materials. Commodity products include commodity viscose and absorbent materials.

Rayonier Advanced Materials Inc

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