Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Up – Time to Buy?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’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.

Analysts Set New Price Targets

RYAM has been the topic of several analyst reports. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada increased their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The stock has a market cap of $512.86 million, a PE ratio of -6.08 and a beta of 3.00. The business has a 50 day moving average price of $8.02 and a two-hundred day moving average price of $7.90.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The firm had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period last year, the firm posted ($0.41) EPS. Research analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen acquired 12,500 shares of the company’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost 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 $100,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Rayonier Advanced Materials

A number of institutional investors have recently modified their holdings of RYAM. Horizon Kinetics Asset Management LLC lifted its position in shares of Rayonier Advanced Materials by 100.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock worth $2,000,000 after acquiring an additional 117,000 shares in the last quarter. Empowered Funds LLC boosted its holdings in Rayonier Advanced Materials by 21.9% in the 3rd quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock valued at $2,907,000 after purchasing an additional 61,054 shares during the period. Jane Street Group LLC grew its position in shares of Rayonier Advanced Materials by 176.2% during the 3rd quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company’s stock valued at $1,495,000 after purchasing an additional 111,440 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Rayonier Advanced Materials in the second quarter worth $632,000. Finally, JPMorgan Chase & Co. raised its position in shares of Rayonier Advanced Materials by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock worth $4,288,000 after buying an additional 306,640 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other 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.