Brokerages Set Alexander & Baldwin, Inc. (NYSE:ALEX) Target Price at $21.67

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been given a consensus recommendation of “Moderate Buy” by the four research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.67.

ALEX has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price target for the company.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds have recently modified their holdings of ALEX. GAMMA Investing LLC raised its stake in Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Alexander & Baldwin in the 1st quarter valued at $32,000. Rothschild Investment LLC bought a new position in shares of Alexander & Baldwin in the 2nd quarter worth $35,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alexander & Baldwin during the 1st quarter worth $41,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

ALEX stock opened at $18.75 on Monday. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 30.24 and a beta of 1.26. The business’s fifty day simple moving average is $19.11 and its two-hundred day simple moving average is $17.96. The company has a quick ratio of 0.53, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.