The stock of Rayonier Inc. (NYSE:RYN) gapped down by $0.06 today and has $24.21 target or 8.00% below today’s $26.32 share price. The 8 months technical chart setup indicates high risk for the $3.21 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $24.21 price target is reached, the company will be worth $256.80M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.83% or $0.22 on October 3, hitting $26.32. Rayonier Inc. (NYSE:RYN) has risen 18.67% since March 1, 2016 and is uptrending. It has outperformed by 6.45% the S&P500.
Analysts await Rayonier Inc. (NYSE:RYN) to report earnings on November, 7. They expect $0.14 EPS, down 17.65% or $0.03 from last year’s $0.17 per share. RYN’s profit will be $17.07 million for 47.00 P/E if the $0.14 EPS becomes a reality. After $0.07 actual EPS reported by Rayonier Inc. for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
Rayonier Inc. (NYSE:RYN) Ratings Coverage
Out of 4 analysts covering Rayonier (NYSE:RYN), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. Rayonier has been the topic of 9 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Buckingham Research downgraded Rayonier Inc. (NYSE:RYN) on Wednesday, September 7 to “Neutral” rating. The rating was downgraded by Zacks to “Sell” on Tuesday, September 22. The rating was upgraded by Buckingham Research on Thursday, August 6 to “Buy”. The firm has “Sell” rating by Zacks given on Thursday, August 20. The stock of Rayonier Inc. (NYSE:RYN) has “Sector Perform” rating given on Friday, August 7 by RBC Capital Markets. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, February 12 report.
According to Zacks Investment Research, “Rayonier is a timberland real estate investment trust with assets located in some of the most productive timber growing regions in the U.S. and New Zealand. Rayonier owns, leases or manages acres of timberlands located in the U.S. South, U.S. Pacific Northwest and New Zealand.”
Insitutional Activity: The institutional sentiment increased to 1.08 in Q2 2016. Its up 0.14, from 0.94 in 2016Q1. The ratio improved, as 27 funds sold all Rayonier Inc. shares owned while 73 reduced positions. 23 funds bought stakes while 85 increased positions. They now own 102.88 million shares or 0.58% less from 103.48 million shares in 2016Q1.
Third Avenue Mngmt Ltd Limited Liability Company accumulated 4.53% or 3.88M shares. Voya Invest Ltd Liability has invested 0% of its portfolio in Rayonier Inc. (NYSE:RYN). Capital Financial Advisers Limited Liability Com has 0% invested in the company for 8,858 shares. Gemmer Asset Mngmt Lc has 120 shares for 0% of their US portfolio. Next Fincl Gru holds 0% of its portfolio in Rayonier Inc. (NYSE:RYN) for 300 shares. Nomura Asset Mngmt Limited holds 25,300 shares or 0.01% of its portfolio. Timber Creek Cap Mngmt Ltd Liability Corporation reported 76,925 shares or 1.69% of all its holdings. Moreover, Taylor Asset Mgmt Inc has 0.14% invested in Rayonier Inc. (NYSE:RYN) for 18,200 shares. Hightower Advsr Limited Liability, a Illinois-based fund reported 32,706 shares. Hanson & Doremus Invest Management has 97 shares for 0% of their US portfolio. Amica Pension Fund Board Of Trustees holds 64,000 shares or 0.22% of its portfolio. Southeastern Asset Tn holds 2.16% or 8.06 million shares in its portfolio. Tower Research Capital Ltd Com (Trc) holds 0.02% of its portfolio in Rayonier Inc. (NYSE:RYN) for 6,706 shares. Principal Gp, a Iowa-based fund reported 460,297 shares. Blackrock Advsrs Limited Liability Com has 0% invested in the company for 68,070 shares.
Insider Transactions: Since May 27, 2016, the stock had 2 insider purchases, and 2 sales for $142,853 net activity. Wiltshire Andrew G. bought 4,000 shares worth $103,240. 881 shares were sold by Bridwell Mark R, worth $23,012 on Friday, May 27. On Friday, August 19 Pyatt Shelby L sold $40,455 worth of the stock or 1,500 shares.
RYN Company Profile
Rayonier Inc. (Rayonier), incorporated on December 3, 1993, is a timberland real estate investment trust (REIT) with assets located in some of the timber growing regions in the United States and New Zealand. The Firm operates through five divisions: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Company’s Southern Timber, Pacific Northwest Timber and New Zealand Timber divisions reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography. The Company’s New Zealand Timber segment reflects land sales that occur within its New Zealand portfolio. The Company’s Real Estate segment reflects the United States land sales. The Company’s Trading segment reflects the log trading activities that support its New Zealand operations. The Firm owns, leases and manages approximately 2.7 million acres of timberlands located in the United States South (over 1.9 million acres), the United States Pacific Northwest (over 372,000 acres) and New Zealand (over 439,000 gross acres). In addition, the Company is engaged in the trading of logs from New Zealand and Australia to Pacific Rim markets, primarily to support its New Zealand export operations.
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