Rayonier Advanced Materials (NYSE:RYAM) Shares Up 8% – What’s Next?

Rayonier Advanced Materials Inc. (NYSE:RYAM) shares were up 8% during trading on Thursday . The company traded as high as $8.23 and last traded at $8.41. Approximately 194,146 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,012,537 shares. The stock had previously closed at $7.79.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RYAM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Rayonier Advanced Materials Stock Performance

The company has a market cap of $584.86 million, a PE ratio of -1.40 and a beta of 2.20. The stock has a 50 day simple moving average of $6.34 and a two-hundred day simple moving average of $5.95. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.57 and a quick ratio of 0.89.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $373.70 million. Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%. Equities analysts predict that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its position in Rayonier Advanced Materials by 754.4% in the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 7,031 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $52,000. Tactive Advisors LLC lifted its holdings in shares of Rayonier Advanced Materials by 18.0% in the 4th quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock valued at $78,000 after buying an additional 2,032 shares during the period. Covestor Ltd lifted its holdings in shares of Rayonier Advanced Materials by 46.7% in the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock valued at $82,000 after buying an additional 3,636 shares during the period. Finally, Inscription Capital LLC purchased a new stake in shares of Rayonier Advanced Materials in the third quarter valued at approximately $121,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.