Rayonier Advanced Materials (NYSE:RYAM) Sees Strong Trading Volume - Here's Why

Key Points

• Unusually high trading volume: About 1,913,862 shares traded (an 86% increase), and the stock fell roughly 12.4% to around $8.91 from $10.21.
• Analyst views are mixed with a consensus rating of Hold and an average target of $14; RBC upgraded to an "outperform" and raised its $14 price target while coverage includes one Buy, one Hold and one Sell.
• Fundamentals show a quarterly EPS miss (−$0.28 vs. estimate −$0.09) despite revenue beating estimates, plus negative margins/ROE and elevated leverage (debt/equity ~2.39).

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,913,862 shares were traded during mid-day trading, an increase of 86% from the previous session's volume of 1,027,140 shares.The stock last traded at $8.9060 and had previously closed at $10.21.

Wall Street Analyst Weigh In

RYAM has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. Wall Street Zen raised Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Finally, Royal Bank Of Canada upped their price target on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an "outperform" rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rayonier Advanced Materials has a consensus rating of "Hold" and an average target price of $14.00.

Rayonier Advanced Materials Stock Down 12.4%

The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 2.39. The company has a fifty day simple moving average of $9.83 and a 200 day simple moving average of $7.92. The firm has a market capitalization of $602.84 million, a P/E ratio of -1.41 and a beta of 2.03.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.19). Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%.The company had revenue of $417.55 million during the quarter, compared to the consensus estimate of $364.07 million. On average, equities analysts expect that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tactive Advisors LLC lifted its holdings in shares of Rayonier Advanced Materials by 18.0% during the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 2,032 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Rayonier Advanced Materials by 1.5% during the fourth quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company's stock valued at $895,000 after purchasing an additional 2,292 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Rayonier Advanced Materials by 46.7% during the third quarter. Covestor Ltd now owns 11,421 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 3,636 shares in the last quarter. Barclays PLC lifted its holdings in shares of Rayonier Advanced Materials by 4.5% during the fourth quarter. Barclays PLC now owns 100,484 shares of the basic materials company's stock valued at $592,000 after purchasing an additional 4,348 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 19.1% during the fourth quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company's stock valued at $163,000 after purchasing an additional 4,438 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.

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