Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Up – Time to Buy?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.70, but opened at $8.28. Rayonier Advanced Materials shares last traded at $8.08, with a volume of 103,481 shares.

Analysts Set New Price Targets

RYAM has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Monday.

Rayonier Advanced Materials Trading Down 2.0 %

The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $7.98 and its two-hundred day moving average price is $7.93.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. During the same period in the previous year, the company posted ($0.41) earnings per share. As a group, equities analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Rayonier Advanced Materials

In related news, Director Eric Bowen bought 12,500 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $8.04 per share, with a total value of $100,500.00. Following the purchase, the director now owns 12,500 shares in the company, valued at approximately $100,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.26% of the stock is currently owned by insiders.

Institutional Trading of Rayonier Advanced Materials

Hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Rayonier Advanced Materials during the fourth quarter worth about $418,000. Ieq Capital LLC acquired a new position in Rayonier Advanced Materials during the 4th quarter worth approximately $83,000. Rhumbline Advisers grew its stake in shares of Rayonier Advanced Materials by 3.5% during the 4th quarter. Rhumbline Advisers now owns 131,544 shares of the basic materials company’s stock worth $1,085,000 after acquiring an additional 4,445 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Rayonier Advanced Materials by 7.9% in the fourth quarter. Savant Capital LLC now owns 31,821 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 2,322 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter worth $84,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

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.