Rayonier Advanced Materials (NYSE:RYAM) Reaches New 1-Year High – Time to Buy?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $11.78 and last traded at $11.7450, with a volume of 443660 shares traded. The stock had previously closed at $11.45.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RYAM. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada boosted their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. One equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Trading Up 3.1%

The company has a current ratio of 1.58, a quick ratio of 0.92 and a debt-to-equity ratio of 2.39. The stock’s fifty day moving average price is $8.68 and its two-hundred day moving average price is $7.25. The stock has a market capitalization of $791.01 million, a P/E ratio of -1.87 and a beta of 2.14.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.19). Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%.The business had revenue of $417.55 million during the quarter, compared to the consensus estimate of $364.07 million. Equities research analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently bought and sold shares of RYAM. Tudor Investment Corp ET AL bought a new stake in Rayonier Advanced Materials in the fourth quarter valued at approximately $126,000. Numerai GP LLC bought a new stake in Rayonier Advanced Materials during the 4th quarter valued at $418,000. Cinctive Capital Management LP purchased a new stake in Rayonier Advanced Materials during the 4th quarter valued at $187,000. Balyasny Asset Management L.P. bought a new stake in Rayonier Advanced Materials in the 4th quarter worth $117,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Rayonier Advanced Materials by 13.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,121 shares of the basic materials company’s stock valued at $231,000 after acquiring an additional 4,714 shares during the period. 68.64% of the stock is currently owned by institutional investors.

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.