Rayonier Advanced Materials (NYSE:RYAM) Trading Up 9.1% – Here’s Why

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) rose 9.1% during trading on Wednesday . The company traded as high as $8.67 and last traded at $8.7270. Approximately 852,703 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 1,088,327 shares. The stock had previously closed at $8.00.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Rayonier Advanced Materials Stock Performance

The stock has a market cap of $583.96 million, a price-to-earnings ratio of -1.39 and a beta of 2.20. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 2.26. The company has a 50 day simple moving average of $6.43 and a 200 day simple moving average of $6.03.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $352.84 million for the quarter, compared to analyst estimates of $373.70 million. Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%. As a group, equities research analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its position in Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 7,031 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Rayonier Advanced Materials during the second quarter valued at about $52,000. Tactive Advisors LLC grew its holdings in shares of Rayonier Advanced Materials by 18.0% during the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,032 shares during the last quarter. Covestor Ltd grew its holdings in shares of Rayonier Advanced Materials by 46.7% during the third quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 3,636 shares during the last quarter. Finally, Inscription Capital LLC acquired a new position in shares of Rayonier Advanced Materials in the third quarter valued at approximately $121,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

About Rayonier Advanced Materials

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.