Alexander & Baldwin (NYSE:ALEX) Stock Rating Lowered by StockNews.com

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

A number of other analysts have also issued reports on ALEX. Piper Sandler restated an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock opened at $17.68 on Tuesday. 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 market cap of $1.28 billion, a P/E ratio of 28.51 and a beta of 1.29. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The firm’s 50 day simple moving average is $18.24 and its 200-day simple moving average is $18.78.

Institutional Trading of Alexander & Baldwin

A number of institutional investors have recently bought and sold shares of ALEX. Van ECK Associates Corp raised its stake in shares of Alexander & Baldwin by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 13,787 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,277 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Alexander & Baldwin by 2.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock worth $596,000 after buying an additional 648 shares during the last quarter. Entropy Technologies LP bought a new position in Alexander & Baldwin during the fourth quarter valued at approximately $341,000. Jennison Associates LLC acquired a new stake in Alexander & Baldwin in the fourth quarter valued at approximately $730,000. Finally, Vert Asset Management LLC bought a new stake in Alexander & Baldwin in the fourth quarter worth approximately $428,000. Institutional investors and hedge funds 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.