Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Up - Still a Buy?

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.70, but opened at $8.28. Rayonier Advanced Materials shares last traded at $8.08, with a volume of 103,481 shares.

Wall Street Analyst Weigh In

Several analysts have commented on RYAM shares. Royal Bank of Canada increased their price target on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. StockNews.com raised shares of Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a research report on Monday.

Rayonier Advanced Materials Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $480.56 million, a PE ratio of -5.70 and a beta of 3.00. The business has a 50 day simple moving average of $7.93 and a 200 day simple moving average of $7.92.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. During the same quarter in the previous year, the firm earned ($0.41) EPS. Equities research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Insider Activity at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen bought 12,500 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $8.04 per share, with a total value of $100,500.00. Following the completion of the acquisition, the director now directly owns 12,500 shares in the company, valued at approximately $100,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC boosted its stake in shares of Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company's stock worth $61,000 after buying an additional 3,900 shares during the last quarter. Ieq Capital LLC purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $83,000. Entropy Technologies LP purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $84,000. Truist Financial Corp acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $66,000. Finally, Aigen Investment Management LP purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter valued at approximately $124,000. 68.64% of the stock is owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

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.