In a report issued on July 18, Paul Quinn from RBC Capital maintained a Hold rating on Rayonier (RYN – Research Report), with a price target of $39.00. The company’s shares closed last Wednesday at $36.20.
According to TipRanks.com, Quinn is a top 100 analyst with an average return of 21.8% and a 59.8% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, GreenFirst Forest Products, and International Paper Co.
Currently, the analyst consensus on Rayonier is a Hold with an average price target of $39.00.
Based on Rayonier’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $222 million and net profit of $29.32 million. In comparison, last year the company earned revenue of $191 million and had a net profit of $10.85 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RYN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Rayonier, Inc. is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography. The Real Estate segment reflects all U.S. land sales, which are reported in the following sales categories: Improved Development, Unimproved Development, Rural, Non-Strategic and Timberlands, and Large Dispositions. The Trading segment reflects the log trading activities that support New Zealand operations. The company was founded in 1926 and is headquartered in Wildlight, FL.
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