Rayonier Advanced Materials (NYSE:RYAM) Sets New 1-Year High - What's Next?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $8.92 and last traded at $8.90, with a volume of 52901 shares trading hands. The stock had previously closed at $8.70.

Analyst Upgrades and Downgrades

RYAM has been the topic of a number of research reports. StockNews.com raised Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Royal Bank of Canada upped their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th.

Rayonier Advanced Materials Stock Performance

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 has a market capitalization of $589.72 million, a PE ratio of -7.58 and a beta of 2.99. The stock's 50 day moving average price is $7.74 and its two-hundred day moving average price is $6.03.

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

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of hedge funds have recently made changes to their positions in RYAM. Russell Investments Group Ltd. raised its holdings in Rayonier Advanced Materials by 471.8% in the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company's stock valued at $9,548,000 after buying an additional 1,648,101 shares during the period. Boston Partners boosted its position in Rayonier Advanced Materials by 1,923.5% during the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company's stock worth $10,307,000 after purchasing an additional 2,054,715 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Rayonier Advanced Materials by 30.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company's stock valued at $3,429,000 after purchasing an additional 168,222 shares during the period. Aristeia Capital L.L.C. boosted its position in shares of Rayonier Advanced Materials by 338.2% in the second quarter. Aristeia Capital L.L.C. now owns 123,313 shares of the basic materials company's stock worth $671,000 after buying an additional 95,173 shares during the period. Finally, Bailard Inc. purchased a new stake in shares of Rayonier Advanced Materials during the 2nd quarter valued at about $254,000. 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.