Rayonier Advanced Materials (NYSE:RYAM) Sets New 12-Month High – What’s Next?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $11.09 and last traded at $11.0240, with a volume of 400513 shares changing hands. The stock had previously closed at $10.27.

Analyst Upgrades and Downgrades

RYAM has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. Royal Bank Of Canada boosted their price objective on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.00.

Rayonier Advanced Materials Stock Performance

The firm has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $7.11. The company has a current ratio of 1.58, a quick ratio of 0.92 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $751.12 million, a price-to-earnings ratio of -1.77 and a beta of 2.14.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.19). Rayonier Advanced Materials had a negative net margin of 28.65% and a negative return on equity of 19.70%. The firm had revenue of $417.55 million for the quarter, compared to analyst estimates of $364.07 million. As a group, sell-side analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its holdings in shares of Rayonier Advanced Materials by 754.4% during the 2nd 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 in the last quarter. Tactive Advisors LLC bought a new stake in Rayonier Advanced Materials in the third quarter worth $82,000. Covestor Ltd boosted its holdings in Rayonier Advanced Materials by 46.7% in the third quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 3,636 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Rayonier Advanced Materials during the fourth quarter worth $76,000. Finally, Quadrature Capital Ltd bought a new position in Rayonier Advanced Materials during the second quarter valued at about $52,000. 68.64% of the stock is owned by institutional investors.

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.