Rayonier Advanced Materials (NYSE:RYAM) Share Price Passes Above Fifty Day Moving Average of $6.06

Rayonier Advanced Materials Inc. (NYSE:RYAM) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.06 and traded as high as $7.65. Rayonier Advanced Materials shares last traded at $7.46, with a volume of 404,037 shares traded.

Analyst Ratings Changes

A number of brokerages recently weighed in on RYAM. Royal Bank of Canada raised their target price on shares of Rayonier Advanced Materials from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th.

Rayonier Advanced Materials Stock Performance

The company has a 50 day simple moving average of $6.06 and a 200-day simple moving average of $5.06. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09. The stock has a market cap of $488.87 million, a P/E ratio of -4.63 and a beta of 3.03.

Rayonier Advanced Materials (NYSE:RYAM) last released 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 return on equity of 3.96% and a negative net margin of 4.82%. The company had revenue of $419.00 million during the quarter, compared to the consensus estimate of $407.10 million. During the same quarter in the previous year, the company posted ($0.25) EPS. On average, equities analysts expect that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in Rayonier Advanced Materials by 22.8% in the fourth quarter. Mackenzie Financial Corp now owns 20,038 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 3,718 shares during the last quarter. Quarry LP purchased a new position in Rayonier Advanced Materials in the 2nd quarter worth approximately $29,000. Tower Research Capital LLC TRC lifted its position in Rayonier Advanced Materials by 64.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,396 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 5,633 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Rayonier Advanced Materials during the second quarter valued at approximately $61,000. Finally, Simplicity Wealth LLC bought a new position in shares of Rayonier Advanced Materials in the first quarter worth approximately $59,000. Hedge funds and other institutional investors 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.