Rayonier Advanced Materials (NYSE:RYAM) Hits New 12-Month High at $7.99

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $7.99 and last traded at $7.97, with a volume of 253054 shares traded. The stock had previously closed at $7.75.

Analysts Set New Price Targets

RYAM has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th.

Rayonier Advanced Materials Stock Up 6.5 %

The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm’s 50 day simple moving average is $6.99 and its two-hundred day simple moving average is $5.56. The firm has a market cap of $544.94 million, a price-to-earnings ratio of -5.16 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The firm had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. During the same period in the previous year, the firm posted ($0.25) EPS. On average, equities analysts forecast that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in Rayonier Advanced Materials during the second quarter valued at about $29,000. Mercer Global Advisors Inc. ADV bought a new position in Rayonier Advanced Materials during the second quarter valued at about $61,000. Truist Financial Corp bought a new position in Rayonier Advanced Materials during the second quarter worth about $66,000. Simplicity Wealth LLC bought a new position in Rayonier Advanced Materials during the first quarter worth about $59,000. Finally, Aristides Capital LLC bought a new position in Rayonier Advanced Materials during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company's products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.