Rayonier Advanced Materials Inc. (NYSE: RYAM) stock fell -5.71% on Friday to $3.14 against a previous-day closing price of $3.33. With 3.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.25 million shares. During the session, the Chemicals company that operates in wider Basic Materials sector, reached to the highest price of $3.3600 whereas the lowest price it dropped to was $3.0800. The 52-week range on RYAM shows that it touched its highest point at $9.84 and its lowest point at $2.84 during that stretch. It currently has a 1-year price target of $6.00. Beta for the stock currently stands at 3.20.
Price Performance and Earnings:
Three-month performance dropped to -26.29% while six-month performance fell -51.32%. The stock lost -32.91% in the past year, while it has lost -67.29% so far this year. A look at the trailing 12-month EPS for RYAM yields 0.12 with Next year EPS estimates of -0.17. For the next quarter, that number is -0.14. This implies an EPS growth rate of 45.20% for this year and 45.20% for next year.
Float and Shares Shorts:
At present, 65.23 million RYAM shares are outstanding with a float of 63.06 million shares on hand for trading. On Aug 30, 2023, short shares totaled 7.0 million, which was 10.71% higher than short shares on Jul 30, 2023. In addition to Mr. De Lyle W. Bloomquist as the firm’s Pres, CEO & Director, Mr. Marcus J. Moeltner serves as its CFO & Sr. VP of Fin.
Through their ownership of 82.91% of RYAM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.97% of RYAM, in contrast to 49.50% held by mutual funds. Shares owned by individuals account for 31.52%. As the largest shareholder in RYAM with 9.53% of the stake, Condire Management LP holds 6,224,420 shares worth 6,224,420. A second-largest stockholder of RYAM, BlackRock Fund Advisors, holds 4,218,260 shares, controlling over 6.46% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in RYAM, holding 3,932,143 shares or 6.02% stake. With a 3.09% stake in RYAM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,021,725 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.17% of RYAM stock, is the second-largest Mutual Fund holder. It holds 1,416,652 shares valued at 5.0 million. DFA US Small Cap Value Portfolio holds 1.58% of the stake in RYAM, owning 1,032,483 shares worth 3.64 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, RYAM reported revenue of $399.22M and operating income of -$4.85M. The EBITDA in the recently reported quarter was $31.95M and diluted EPS was -$0.36.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RYAM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RYAM analysts setting a high price target of $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, RYAM could surge 91.08% to reach the target high and rise by 91.08% to reach the target low. Reaching the average price target will result in a growth of 91.08% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RYAM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 868,809 while 176,959 shares were sold.