Rayonier Advanced Materials (NYSE:RYAM) Hits New 12-Month High – Time to Buy?

Rayonier Advanced Materials Inc. (NYSE:RYAMGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.65 and last traded at $10.63, with a volume of 703551 shares trading hands. The stock had previously closed at $9.37.

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Here are the key news stories impacting Rayonier Advanced Materials this week:

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RYAM. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

View Our Latest Analysis on Rayonier Advanced Materials

Rayonier Advanced Materials Price Performance

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 stock has a market capitalization of $711.65 million, a price-to-earnings ratio of -1.70 and a beta of 2.14. The company has a 50-day simple moving average of $7.81 and a two-hundred day simple moving average of $6.89.

Rayonier Advanced Materials (NYSE:RYAMGet Free Report) last released its earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19). The firm had revenue of $417.00 million during the quarter, compared to analyst estimates of $364.07 million. Rayonier Advanced Materials had a negative return on equity of 13.64% and a negative net margin of 28.21%. On average, equities research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings in Rayonier Advanced Materials by 6.1% in the 3rd quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock worth $19,646,000 after acquiring an additional 155,268 shares during the period. Nantahala Capital Management LLC lifted its position in shares of Rayonier Advanced Materials by 252.6% during the 4th quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock worth $10,602,000 after purchasing an additional 1,289,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rayonier Advanced Materials by 26.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock valued at $9,942,000 after purchasing an additional 348,589 shares during the period. Acadian Asset Management LLC grew its holdings in Rayonier Advanced Materials by 2.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,557,852 shares of the basic materials company’s stock valued at $5,996,000 after buying an additional 36,298 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Rayonier Advanced Materials by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,548,346 shares of the basic materials company’s stock worth $9,122,000 after buying an additional 9,234 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

(Get Free Report)

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.

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