Alexander & Baldwin, Inc. (NYSE:ALEX) Receives $21.67 Average Target Price from Analysts

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.67.

ALEX has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners initiated coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALEX. Geode Capital Management LLC grew its position in Alexander & Baldwin by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after buying an additional 23,441 shares in the last quarter. Barclays PLC increased its holdings in Alexander & Baldwin by 25.4% in the 3rd quarter. Barclays PLC now owns 251,868 shares of the financial services provider’s stock valued at $4,836,000 after buying an additional 51,027 shares during the period. Jane Street Group LLC raised its position in shares of Alexander & Baldwin by 61.2% in the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after buying an additional 35,916 shares in the last quarter. State Street Corp boosted its position in shares of Alexander & Baldwin by 9.4% during the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after acquiring an additional 363,223 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Alexander & Baldwin in the third quarter valued at approximately $79,000. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.2 %

NYSE:ALEX opened at $19.36 on Friday. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The stock’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $18.28. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.41 billion, a P/E ratio of 31.23 and a beta of 1.26.

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.