Rayonier Advanced Materials (NYSE:RYAM) Hits New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RYAM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

Rayonier Advanced Materials Stock Performance

The stock has a market cap of $571.60 million, a P/E 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 company has a fifty day moving average of $6.29 and a 200 day moving average of $5.91.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, meeting 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, equities analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several large investors have recently made changes to their positions in RYAM. Osaic Holdings Inc. grew 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 worth $31,000 after purchasing an additional 7,031 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Rayonier Advanced Materials during the second quarter worth approximately $52,000. Tactive Advisors LLC grew its position in 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 worth $78,000 after buying an additional 2,032 shares during the last quarter. Covestor Ltd increased its holdings 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 valued at $82,000 after buying an additional 3,636 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in shares of Rayonier Advanced Materials in the third quarter valued at $121,000. 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.