Rayonier Advanced Materials (NYSE:RYAM) Trading 7% Higher – Should You Buy?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) rose 7% on Wednesday . The stock traded as high as $9.21 and last traded at $9.2120. Approximately 125,519 shares were traded during trading, a decline of 88% from the average session volume of 1,048,078 shares. The stock had previously closed at $8.61.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RYAM shares. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Research lowered shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Royal Bank Of Canada dropped their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rayonier Advanced Materials has a consensus rating of “Reduce” and an average price target of $13.00.

Rayonier Advanced Materials Trading Down 6.4%

The company has a 50 day moving average price of $8.26 and a 200 day moving average price of $8.91. The firm has a market cap of $569.39 million, a price-to-earnings ratio of -1.20 and a beta of 1.78. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly 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). The business had revenue of $319.06 million for the quarter, compared to analysts’ expectations of $302.63 million. Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%. On average, research analysts expect that Rayonier Advanced Materials Inc. will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in shares of Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 7,031 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Rayonier Advanced Materials in the 4th quarter worth approximately $76,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rayonier Advanced Materials in the 4th quarter worth approximately $86,000. Balyasny Asset Management L.P. purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $117,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Rayonier Advanced Materials by 39.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 5,721 shares during the period. Hedge funds and other institutional investors 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.