Rayonier Advanced Materials (NYSE:RYAM) Trading 7.9% Higher – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s share price shot up 7.9% on Wednesday . The stock traded as high as $7.58 and last traded at $7.8010. Approximately 37,422 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 1,053,212 shares. The stock had previously closed at $7.23.

Analysts Set New Price Targets

A number of research analysts have issued reports on RYAM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. Zacks Research cut Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen lowered Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $14.00.

Rayonier Advanced Materials Price Performance

The firm has a market capitalization of $547.01 million, a P/E ratio of -1.15 and a beta of 1.78. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21. The business’s 50 day moving average is $8.34 and its 200-day moving average is $8.82.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. The business had revenue of $319.06 million during the quarter, compared to analyst estimates of $302.63 million. As a group, sell-side analysts predict that Rayonier Advanced Materials Inc. will post -1.16 EPS for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Several large investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP acquired a new position in Rayonier Advanced Materials during the third quarter worth about $1,267,000. GSA Capital Partners LLP grew its holdings in shares of Rayonier Advanced Materials by 83.7% during the 4th quarter. GSA Capital Partners LLP now owns 342,135 shares of the basic materials company’s stock valued at $2,015,000 after purchasing an additional 155,902 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Rayonier Advanced Materials by 28.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 422,927 shares of the basic materials company’s stock valued at $4,682,000 after purchasing an additional 92,942 shares during the last quarter. Next Capital Management LLC increased its position in Rayonier Advanced Materials by 24.2% during the 4th quarter. Next Capital Management LLC now owns 82,245 shares of the basic materials company’s stock worth $484,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Inscription Capital LLC increased its position in Rayonier Advanced Materials by 39.2% during the 4th quarter. Inscription Capital LLC now owns 23,248 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 6,542 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

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.