Rayonier Advanced Materials (NYSE:RYAM) Reaches New 1-Year High – Time to Buy?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.09 and last traded at $11.0240, with a volume of 400513 shares traded. The stock had previously closed at $10.27.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RYAM. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada increased their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Rayonier Advanced Materials Trading Up 6.8%

The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $734.97 million, a P/E ratio of -1.75 and a beta of 2.14. The firm has a 50 day moving average of $8.17 and a 200-day moving average of $7.04.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, March 3rd. The basic materials company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19). The company had revenue of $417.55 million for the quarter, compared to the consensus estimate of $364.07 million. Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%. On average, equities research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its position in Rayonier Advanced Materials by 754.4% during the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 7,031 shares during the period. Tactive Advisors LLC acquired a new position in shares of Rayonier Advanced Materials in the 3rd quarter valued at approximately $82,000. Covestor Ltd lifted its holdings in shares of Rayonier Advanced Materials by 46.7% during the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 3,636 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $76,000. Finally, Quadrature Capital Ltd bought a new position in Rayonier Advanced Materials in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

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.