Alexander & Baldwin (NYSE:ALEX) Rating Increased to Buy at StockNews.com

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

A number of other equities analysts have also commented on the stock. Piper Sandler lifted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $18.07 on Friday. The stock’s fifty day simple moving average is $17.72 and its 200-day simple moving average is $18.60. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 29.14 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, sell-side analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in Alexander & Baldwin by 61.2% during the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after acquiring an additional 35,916 shares during the period. HighTower Advisors LLC bought a new stake in shares of Alexander & Baldwin in the third quarter valued at about $1,151,000. Victory Capital Management Inc. lifted its stake in shares of Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after buying an additional 29,006 shares during the period. Geode Capital Management LLC lifted its stake in shares of Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after buying an additional 23,441 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after buying an additional 140,207 shares during the period. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.