RBC Capital Remains a Hold on Rayonier

By Austin Angelo

In a report issued on November 12, Paul Quinn from RBC Capital reiterated a Hold rating on Rayonier (NYSE: RYN), with a price target of $29. The company’s shares closed yesterday at $30.99, close to its 52-week high of $31.67.

According to TipRanks.com, Quinn is a top 25 analyst with an average return of 21.5% and a 79.5% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Rayonier Advanced Materials, Mercer International Inc, and International Paper Co.

Currently, the analyst consensus on Rayonier is Hold and the average price target is $30, representing a -3.2% downside.

In a report issued on November 1, BMO Capital also reiterated a Hold rating on the stock with a $31 price target.

Based on Rayonier’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $184 million and quarterly net profit of $24.69 million. In comparison, last year the company earned revenue of $176 million and had a net profit of $39.36 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Mark Bridwell, the VP, General Counsel and CS of RYN sold 1,659 shares for a total of $51,711.

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Rayonier, Inc. is a real estate investment trust, which engages in investment in timberlands. It operates through the following segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, and Trading.