Alexander & Baldwin (NYSE:ALEX) Rating Lowered to Hold at StockNews.com

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

ALEX has been the subject of a number of other reports. Piper Sandler restated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $17.54 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 28.28 and a beta of 1.29. The company’s 50 day simple moving average is $18.52 and its 200-day simple moving average is $18.74. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Choreo LLC purchased a new stake in shares of Alexander & Baldwin during the second quarter valued at approximately $208,000. American Century Companies Inc. grew its holdings in Alexander & Baldwin by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 23,530 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 2,014 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Alexander & Baldwin during the 2nd quarter worth $221,000. Dimensional Fund Advisors LP lifted its holdings in Alexander & Baldwin by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 57,743 shares of the financial services provider’s stock worth $979,000 after buying an additional 9,730 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Alexander & Baldwin by 6.5% in the 2nd quarter. Hsbc Holdings PLC now owns 62,852 shares of the financial services provider’s stock worth $1,062,000 after buying an additional 3,826 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.