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

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

A number of other research firms also recently weighed in on ALEX. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler raised their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th.

Alexander & Baldwin Stock Up 1.8 %

NYSE:ALEX opened at $18.07 on Friday. The firm has a market capitalization of $1.31 billion, a P/E ratio of 29.14 and a beta of 1.27. The stock’s fifty day simple moving average is $17.72 and its 200-day simple moving average is $18.61. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30.

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

Hedge Funds Weigh In On Alexander & Baldwin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in shares of Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after buying an additional 35,916 shares during the last quarter. HighTower Advisors LLC bought a new stake in Alexander & Baldwin in the 3rd quarter valued at $1,151,000. Victory Capital Management Inc. lifted its holdings in Alexander & Baldwin by 3.1% during the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after purchasing an additional 29,006 shares during the last quarter. Geode Capital Management LLC boosted its position in Alexander & Baldwin by 1.3% during 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 purchasing an additional 23,441 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after purchasing an additional 140,207 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

About Alexander & Baldwin

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.