Alexander & Baldwin (NYSE:ALEX) Cut 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 note issued on Sunday.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler lifted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $17.45 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.27 billion, a P/E ratio of 28.14 and a beta of 1.27. The company has a 50-day moving average of $17.74 and a two-hundred day moving average of $18.55. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30.

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

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in 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 valued at $82,033,000 after purchasing an additional 363,223 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Alexander & Baldwin by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock valued at $35,723,000 after purchasing an additional 43,333 shares during the period. Geode Capital Management LLC grew its holdings in 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 valued at $36,032,000 after purchasing an additional 23,441 shares during the period. Northern Trust Corp grew its holdings in Alexander & Baldwin by 23.5% in the fourth quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider’s stock valued at $18,110,000 after purchasing an additional 194,534 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Alexander & Baldwin by 3.1% in the third 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 period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.