Rayonier Advanced Materials (NYSE:RYAM) Reaches New 52-Week High – Time to Buy?

Rayonier Advanced Materials Inc. (NYSE:RYAM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $8.57 and last traded at $8.53, with a volume of 1048635 shares traded. The stock had previously closed at $7.79.

Analyst Ratings Changes

RYAM has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Rayonier Advanced Materials Stock Up 9.5%

The firm has a market cap of $571.60 million, a PE ratio of -1.36 and a beta of 2.20. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.57 and a quick ratio of 0.89. The business has a fifty day moving average price of $6.29 and a two-hundred day moving average price of $5.91.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, November 4th. The basic materials company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Rayonier Advanced Materials had a negative return on equity of 13.64% and a negative net margin of 28.21%.The firm had revenue of $352.84 million during the quarter, compared to analyst estimates of $373.70 million. On average, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RYAM. Osaic Holdings Inc. lifted its position in 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 worth $31,000 after buying an additional 7,031 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Rayonier Advanced Materials in the second quarter worth $52,000. Tactive Advisors LLC raised 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 acquiring an additional 2,032 shares in the last quarter. Covestor Ltd raised 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 acquiring an additional 3,636 shares in the last quarter. Finally, Inscription Capital LLC acquired a new stake in Rayonier Advanced Materials during the third quarter valued at $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.