Rayonier Advanced Materials Received its Third Buy in a Row

By Austin Angelo

After Merrill Lynch and Vertical Research assigned a Buy rating to Rayonier Advanced Materials in the last month, the company received another Buy, this time from RBC Capital. Analyst Paul Quinn reiterated a Buy rating on Rayonier Advanced Materials (NYSE: RYAM) today and set a price target of $20. The company’s shares closed last Friday at $16.05.

According to TipRanks.com, Quinn is a top 100 analyst with an average return of 20.0% and a 74.2% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, International Paper Co, and Clearwater Paper.

Currently, the analyst consensus on Rayonier Advanced Materials is Strong Buy and the average price target is $19, representing a 18.4% upside.

In a report issued on May 26, Merrill Lynch also upgraded the stock to Buy.

The company has a one year high of $17.38 and a one year low of $10.37. Currently, Rayonier Advanced Materials has an average volume of 462.8K.

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Rayonier Advanced Materials, Inc. engages in the production and sale of cellulose specialties. Its products include turpentince, soap, and raylig. The company was founded on January 16, 2014 and is headquartered in Jacksonville, Fl.