Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Up – What’s Next?

Rayonier Advanced Materials Inc. (NYSE:RYAM) 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.

Analysts Set New Price Targets

Several research analysts have commented on RYAM shares. Royal Bank of Canada lifted their price objective on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Monday.

Rayonier Advanced Materials Price 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 stock has a fifty day moving average of $8.02 and a two-hundred day moving average of $7.90. The stock has a market cap of $512.86 million, a price-to-earnings ratio of -6.08 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The firm had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. During the same quarter last year, the firm earned ($0.41) EPS. On average, equities research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Rayonier Advanced Materials news, Director Eric Bowen purchased 12,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $8.04 per share, for a total transaction of $100,500.00. Following the completion of the acquisition, the director now directly owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RYAM. Y Intercept Hong Kong Ltd acquired a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at $418,000. Ieq Capital LLC acquired a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $83,000. Rhumbline Advisers raised its position in shares of Rayonier Advanced Materials by 3.5% in the fourth quarter. Rhumbline Advisers now owns 131,544 shares of the basic materials company’s stock valued at $1,085,000 after purchasing an additional 4,445 shares during the period. Savant Capital LLC increased its position in Rayonier Advanced Materials by 7.9% during the 4th quarter. Savant Capital LLC now owns 31,821 shares of the basic materials company’s stock worth $263,000 after buying an additional 2,322 shares during the period. Finally, Entropy Technologies LP acquired a new position in Rayonier Advanced Materials in the 4th quarter valued at $84,000. 68.64% of the stock is owned by institutional investors.

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.