Rayonier Advanced Materials Inc. (NYSE:RYAM) is among the top gainers of the stock market today, skyrocketing 16.06% or (0.17 points) to $1.26 from its previous close of $1.09. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 291138 contracts so far this session. RYAM shares had a relatively better volume day versus average trading capacity of 699.81 thousand shares, but with a 61.25 million float and a 11.22% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RYAM stock indicates that the average analyst price target is $5.47 per share. This means the stock has a potential increase of 334.13% from where the RYAM share price has been trading recently.
During the recent trading session for Rayonier Advanced Materials Inc. (NYSE:RYAM), the company witnessed their stock rise $0.05 over a week and tumble down $-0.85 from the price 20 days ago. When compared to their established 52-week high of $15.66, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/23/19. The recent low of $0.93 stood for a -91.92% since 03/19/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 3.38 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Rayonier Advanced Materials Inc., the two-week RSI stands at 37.58. This figure suggests that RYAM stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RYAM readings is similarly very revealing as it has a stochastic reading of 23.08% at this stage. This figure means that RYAM share price today is being overbought.
Technical chart claims that Rayonier Advanced Materials Inc. (RYAM) would settle between $1.2233/share to $1.3565/share level. However, if the stock price goes below the $0.9934 mark, then the market for Rayonier Advanced Materials Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.8967 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.0044. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Berenberg lowered their recommendation on shares of RYAM from Buy to Hold in their opinion released on October 16. Sidoti analysts have lowered their rating of Rayonier Advanced Materials Inc. (NYSE:RYAM) stock from Buy to Neutral in a separate flash note issued to investors on August 08. Analysts at BofA/Merrill lowered the stock to a Underperform call from its previous Buy recommendation, in a research note that dated back to August 08.
RYAM equity has an average rating of 2.75, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated Rayonier Advanced Materials Inc. (NYSE:RYAM) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, RYAM stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 28. Rayonier Advanced Materials Inc. current P/B ratio of 0.1 means it is trading at a discount against its industry’s 1.
Rayonier Advanced Materials Inc. (RYAM)’s current-quarter revenues are projected to climb by nearly -9.8% to hit $435250, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -0.2% from $1.77 billion to a noteworthy $1.77 billion. At the other end of the current quarter income statement, Rayonier Advanced Materials Inc. is expected to see its adjusted earnings surge by roughly 23.1% to hit $-0.4 per share. For the fiscal year, RYAM’s earnings are projected to climb by roughly -107% to hit $-1.18 per share.