StockNews.com Upgrades Alexander & Baldwin (NYSE:ALEX) to Buy

Alexander & Baldwin (NYSE:ALEX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other analysts have also weighed in on ALEX. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price objective (up 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 issued a “buy” rating and a $22.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Alexander & Baldwin Stock Performance

ALEX stock opened at $19.66 on Monday. 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 business’s fifty day simple moving average is $19.07 and its two-hundred day simple moving average is $18.31. 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 $1.43 billion, a price-to-earnings ratio of 31.65 and a beta of 1.26.

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors have recently added to or reduced their stakes in ALEX. Vanguard Group Inc. grew its holdings in Alexander & Baldwin by 0.6% in the first quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock valued at $193,115,000 after purchasing an additional 71,797 shares during the period. State Street Corp boosted its stake in shares of Alexander & Baldwin by 9.4% in the third 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 during the last quarter. Reinhart Partners LLC. boosted its stake in shares of Alexander & Baldwin by 2.9% in the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after acquiring an additional 72,240 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Alexander & Baldwin by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after acquiring an additional 190,357 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $36,032,000 after acquiring an additional 23,441 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.