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

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

Several other equities analysts have also recently issued reports on the company. Piper Sandler reiterated 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. Alliance Global Partners began coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Up 0.4 %

Shares of ALEX traded up $0.09 during midday trading on Monday, hitting $19.45. The company had a trading volume of 498,982 shares, compared to its average volume of 321,893. The company’s 50-day simple moving average is $19.08 and its 200-day simple moving average is $18.29. 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 capitalization of $1.41 billion, a P/E ratio of 31.36 and a beta of 1.26. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30.

Institutional Investors Weigh In On Alexander & Baldwin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 last quarter. Rothschild Investment LLC purchased a new stake in Alexander & Baldwin in the second quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Alexander & Baldwin by 34.8% in 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 buying an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after buying an additional 572 shares during the last quarter. Finally, KBC Group NV lifted its stake in Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after buying an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.