Rayonier Advanced Materials (NYSE:RYAM) Stock Price Up 7% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday. Royal Bank Of Canada reduced their price objective 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, Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $13.00.

Rayonier Advanced Materials Trading Up 7.8%

The company has a fifty day moving average of $8.29 and a two-hundred day moving average of $8.87. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 3.21. The stock has a market capitalization of $625.84 million, a price-to-earnings ratio of -1.32 and a beta of 1.78.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. The company had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. On average, research analysts expect that Rayonier Advanced Materials Inc. will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RYAM. Osaic Holdings Inc. lifted 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. Graham Capital Management L.P. bought a new stake in Rayonier Advanced Materials during the fourth quarter valued at about $76,000. Tactive Advisors LLC grew its position in shares of Rayonier Advanced Materials by 18.0% in the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 2,032 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $86,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $117,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.