Alexander & Baldwin, Inc. (NYSE:ALEX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been assigned a consensus rating of “Moderate Buy” from the four research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $21.67.

ALEX has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. 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. Finally, StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALEX. GAMMA Investing LLC increased its holdings in Alexander & Baldwin by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 759 shares during the period. Rothschild Investment LLC acquired a new position in shares of Alexander & Baldwin during the second quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after buying an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of 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 valued at $66,000 after acquiring an additional 572 shares in the last quarter. Finally, KBC Group NV grew its position in Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock opened at $19.44 on Friday. 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 current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $1.41 billion, a P/E ratio of 31.35 and a beta of 1.26. The business has a 50 day moving average of $19.09 and a 200-day moving average of $18.24.

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.