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

Alexander & Baldwin (NYSE:ALEX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other equities research analysts have also weighed in on ALEX. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.93 on Thursday. 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 stock has a market cap of $1.30 billion, a PE ratio of 28.91 and a beta of 1.29. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The business has a 50-day simple moving average of $18.04 and a two-hundred day simple moving average of $18.77.

Institutional Investors Weigh In On Alexander & Baldwin

Several large investors have recently modified their holdings of ALEX. GAMMA Investing LLC lifted its stake in Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after buying an additional 759 shares during the period. Smartleaf Asset Management LLC increased its holdings in Alexander & Baldwin by 284.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,239 shares in the last quarter. Versant Capital Management Inc grew its holdings in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 727 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.