Rayonier Inc. (NYSE: RYN) shares rose in value in early trading today on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Raymond James Financial, Inc. upgraded shares of Rayonier Inc. (NYSE: RYN) from Market Perform to Outperform today. With a rating of Outperform on the shares, Rayonier Inc. has a 52-week high of $28.47. A number of other analysts have commented on the company recently, and Rayonier Inc. has earned a consensus one-year price target of $27.83, less than the opening price of $27.87, a difference of 10.08 percent. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
Shares of Rayonier Inc. (NYSE: RYN) opened at $27.87 yesterday and traded in a range between, $27.41 and $27.87, and last traded at $27.60, a spike of $0.32 compared to the previous closing price.
Rayonier Inc. (NYSE: RYN) now has a market cap of 3.38B.
Rayonier Inc. (NYSE: RYN) Average Daily Trading Volume
The stock’s average daily volume is 415,536 shares out of a total float 122,133,000 and some 27,989 shares crossed the trading desk yesterday, 68 percent lower than normal. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are considering.
Rayonier Inc. (NYSE: RYN) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Rayonier Inc. (NYSE: RYN) now has a 50-day MA of $27.13 and 200-day MA of $26.74. It has traded in a 52-week range between $17.85 – 28.47 and today’s last price is 3.06%% lower than the 52 week high of $28.47.
Earnings growth is a critical factor to look at when investing in stocks and investors seek companies that have grown their earnings at least 25% or more over the past 3 years.
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