Rayonier Advanced Materials (NYSE:RYAM) Trading 6.4% Higher – What’s Next?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price was up 6.4% on Friday . The company traded as high as $8.03 and last traded at $7.99. Approximately 253,941 shares changed hands during trading, a decline of 52% from the average daily volume of 524,894 shares. The stock had previously closed at $7.51.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RYAM. Royal Bank of Canada boosted their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th.

Rayonier Advanced Materials Trading Up 6.0 %

The firm has a 50-day moving average of $7.97 and a two-hundred day moving average of $6.28. The firm has a market capitalization of $524.48 million, a P/E ratio of -6.75 and a beta of 2.99. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in Rayonier Advanced Materials by 471.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after purchasing an additional 1,648,101 shares in the last quarter. Boston Partners raised its holdings in Rayonier Advanced Materials by 1,923.5% in the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after buying an additional 2,054,715 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Rayonier Advanced Materials by 30.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock worth $3,429,000 after buying an additional 168,222 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Rayonier Advanced Materials during the 2nd quarter worth approximately $632,000. Finally, Aristeia Capital L.L.C. grew its holdings in Rayonier Advanced Materials by 338.2% during the 2nd quarter. Aristeia Capital L.L.C. now owns 123,313 shares of the basic materials company’s stock worth $671,000 after acquiring an additional 95,173 shares during the last quarter. 68.64% of the stock is currently owned by 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.