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RBC Capital Sticks to Its Buy Rating for Rayonier Advanced Materials (RYAM)

Tipranks - Fri Aug 7, 6:30AM CDT

In a report released today, Matt McKellar from RBC Capital reiterated a Buy rating on Rayonier Advanced Materials, with a price target of $13.00.

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McKellar covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, Acadian Timber, and Canfor. According to TipRanks, McKellar has an average return of 7.6% and a 52.73% success rate on recommended stocks.

Currently, the analyst consensus on Rayonier Advanced Materials is a Moderate Buy with an average price target of $14.00.

Based on Rayonier Advanced Materials’ latest earnings release for the quarter ending June 27, the company reported a quarterly revenue of $376 million and a GAAP net loss of $33 million. In comparison, last year the company earned a revenue of $340.05 million and had a GAAP net loss of $363.2 million

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