Rayonier Advanced Materials (NYSE:RYAM) Trading Up 8.7% – Here’s What Happened

Rayonier Advanced Materials Inc. (NYSE:RYAM) shot up 8.7% during mid-day trading on Tuesday . The stock traded as high as $9.12 and last traded at $9.2150. 632,614 shares were traded during trading, a decline of 37% from the average session volume of 1,011,695 shares. The stock had previously closed at $8.48.

Wall Street Analyst Weigh In

RYAM has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. Royal Bank Of Canada reduced their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.00.

Rayonier Advanced Materials Trading Down 0.2%

The company has a market cap of $618.57 million, a price-to-earnings ratio of -4.35 and a beta of 1.76. The firm has a 50 day moving average price of $8.59 and a two-hundred day moving average price of $9.01. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 3.83.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The company had revenue of $376.14 million during the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. As a group, equities analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several large investors have recently modified their holdings of the company. Aip LLC bought a new stake in Rayonier Advanced Materials in the second quarter worth approximately $26,724,000. Irenic Capital Management LP bought a new position in shares of Rayonier Advanced Materials during the 1st quarter worth approximately $15,013,000. BlackRock Inc. acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $37,437,000. Lazard Asset Management LLC acquired a new stake in shares of Rayonier Advanced Materials during the 1st quarter worth approximately $2,150,000. Finally, Empowered Funds LLC bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at $3,138,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc (NYSE:RYAM) is a specialty materials company that develops and manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, viscose pulp and other engineered biomaterials.

The company’s products are used in a range of applications, including pharmaceutical and food ingredients, cigarette filters, liquid-crystal displays, paints and coatings, textiles, tire and rubber products, personal care items and other specialty materials.