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

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

ALEX has been the subject of a number of other reports. Piper Sandler raised their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Trading Up 0.3 %

ALEX stock opened at $18.06 on Friday. The firm has a fifty day moving average price of $17.69 and a 200 day moving average price of $18.64. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $1.31 billion, a PE ratio of 29.12 and a beta of 1.29.

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

Hedge Funds Weigh In On Alexander & Baldwin

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALEX. Balyasny Asset Management L.P. purchased a new position in Alexander & Baldwin in the fourth quarter valued at about $7,722,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after acquiring an additional 382,327 shares during the last quarter. State Street Corp lifted its holdings in shares of Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after purchasing an additional 363,223 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alexander & Baldwin by 51.0% during the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock worth $15,612,000 after purchasing an additional 297,044 shares during the period. Finally, Norges Bank acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth about $5,236,000. Hedge funds and other institutional investors 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.