Alexander & Baldwin (NYSE:ALEX) Upgraded by StockNews.com to “Buy” Rating

Alexander & Baldwin (NYSE:ALEX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages have also issued reports on ALEX. Piper Sandler reissued an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Alexander & Baldwin has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Trading Down 1.2 %

Shares of NYSE:ALEX opened at $19.10 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 30.81 and a beta of 1.26. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a 50 day moving average price of $19.09 and a 200 day moving average price of $18.14.

Hedge Funds Weigh In On Alexander & Baldwin

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 759 shares during the period. Rothschild Investment LLC bought a new position in Alexander & Baldwin during the second quarter worth about $35,000. Allspring Global Investments Holdings LLC bought a new position in Alexander & Baldwin during the first quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. increased 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 worth $54,000 after acquiring an additional 727 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the period. 91.29% of the stock is owned by institutional investors.

About Alexander & Baldwin

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.