Rayonier Advanced Materials (NYSE:RYAM) Sets New 12-Month High – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $10.65 and last traded at $10.63, with a volume of 703551 shares trading hands. The stock had previously closed at $9.37.

Analysts Set New Price Targets

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

Rayonier Advanced Materials Stock Down 1.4%

The firm has a market capitalization of $672.78 million, a price-to-earnings ratio of -1.59 and a beta of 2.14. The business’s 50-day moving average is $8.00 and its two-hundred day moving average is $6.94. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.89 and a current ratio of 1.58.

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

Institutional Trading of Rayonier Advanced Materials

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of Rayonier Advanced Materials by 38.0% in the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock worth $6,718,000 after acquiring an additional 321,613 shares in the last quarter. Caxton Associates LLP bought a new stake in Rayonier Advanced Materials during the 1st quarter worth approximately $248,000. Empowered Funds LLC lifted its stake in Rayonier Advanced Materials by 4.2% in the first quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock valued at $2,139,000 after buying an additional 15,071 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Rayonier Advanced Materials by 2.4% in the second quarter. Acadian Asset Management LLC now owns 1,557,852 shares of the basic materials company’s stock valued at $5,996,000 after buying an additional 36,298 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Rayonier Advanced Materials by 1.3% in the second quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after buying an additional 19,999 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

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.