Rayonier Advanced Materials (NYSE:RYAM) Sets New 1-Year High – Still a Buy?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.85 and last traded at $8.7150, with a volume of 1259807 shares traded. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RYAM shares. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.

Rayonier Advanced Materials Trading Up 8.9%

The firm has a 50 day moving average of $6.48 and a 200 day moving average of $6.05. The firm has a market cap of $583.99 million, a PE 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.

Rayonier Advanced Materials (NYSE:RYAM) last issued its 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 firm had revenue of $352.84 million for the quarter, compared to analyst estimates of $373.70 million. Rayonier Advanced Materials had a negative return on equity of 13.64% and a negative net margin of 28.21%. Equities analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Large investors have recently modified their holdings of the business. Tactive Advisors LLC increased its stake in Rayonier Advanced Materials by 18.0% in the 4th 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 period. SummerHaven Investment Management LLC grew its holdings in shares of Rayonier Advanced Materials by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 144,165 shares of the basic materials company’s stock worth $555,000 after purchasing an additional 3,382 shares during the last quarter. Covestor Ltd increased its stake in shares of Rayonier Advanced Materials by 46.7% in the third quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after buying an additional 3,636 shares during the period. Osaic Holdings Inc. raised its holdings 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 valued at $31,000 after buying an additional 7,031 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its position in Rayonier Advanced Materials by 3.7% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 223,500 shares of the basic materials company’s stock valued at $860,000 after buying an additional 8,000 shares during the period. Hedge funds and other institutional investors 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.