Rayonier Advanced Materials (NYSE:RYAM) Shares Up 3.2%

Rayonier Advanced Materials Inc. (NYSE:RYAM) shares were up 3.2% during mid-day trading on Friday . The company traded as high as $7.80 and last traded at $7.77. Approximately 327,089 shares traded hands during trading, a decline of 38% from the average daily volume of 523,780 shares. The stock had previously closed at $7.53.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RYAM shares. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Rayonier Advanced Materials from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th.

Rayonier Advanced Materials Stock Performance

The business’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $5.20. The company has a quick ratio of 1.09, a current ratio of 1.69 and a debt-to-equity ratio of 1.00. The firm has a market cap of $523.30 million, a price-to-earnings ratio of -4.69 and a beta of 3.03.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The company had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same quarter in the prior year, the business posted ($0.25) earnings per share. As a group, sell-side analysts expect that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Rayonier Advanced Materials in the second quarter valued at approximately $29,000. Simplicity Wealth LLC purchased a new position in Rayonier Advanced Materials in the 1st quarter valued at $59,000. Mercer Global Advisors Inc. ADV acquired a new stake in Rayonier Advanced Materials during the 2nd quarter worth $61,000. Truist Financial Corp purchased a new stake in shares of Rayonier Advanced Materials during the second quarter worth $66,000. Finally, Aristides Capital LLC acquired a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $69,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company's 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.