Alexander & Baldwin (NYSE:ALEX) Downgraded to “Hold” Rating by StockNews.com

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

Other research analysts have also issued reports about the stock. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Alexander & Baldwin Trading Down 1.0 %

Shares of NYSE:ALEX traded down $0.18 during trading on Friday, hitting $17.54. The company had a trading volume of 236,906 shares, compared to its average volume of 296,982. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 28.28 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The company has a fifty day simple moving average of $18.52 and a two-hundred day simple moving average of $18.73. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30.

Institutional Trading of Alexander & Baldwin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Alexander & Baldwin by 19.9% during 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 purchasing an additional 572 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Alexander & Baldwin by 5.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after buying an additional 683 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Alexander & Baldwin by 34.8% in the 3rd 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 period. GAMMA Investing LLC grew its stake in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 759 shares in the last quarter. Finally, CKW Financial Group increased its position in shares of Alexander & Baldwin by 5.8% during the third quarter. CKW Financial Group now owns 16,785 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 924 shares during the period. 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.