Alexander & Baldwin (NYSE:ALEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a research report released on Friday morning.

ALEX has been the topic of several other research reports. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Price Performance

NYSE:ALEX opened at $19.22 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $19.09 and its 200 day moving average price is $18.19. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The firm has a market cap of $1.40 billion, a P/E ratio of 31.00 and a beta of 1.26.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alexander & Baldwin by 386.5% during the 3rd 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 purchasing an additional 382,327 shares during the last quarter. State Street Corp boosted 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 worth $82,033,000 after purchasing an additional 363,223 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Alexander & Baldwin by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after buying an additional 190,357 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Alexander & Baldwin by 24.4% during the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after buying an additional 122,286 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after buying an additional 111,392 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

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.