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

Alexander & Baldwin (NYSE:ALEX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts also recently weighed in on ALEX. Piper Sandler lifted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $17.63 on Friday. 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 stock has a market capitalization of $1.28 billion, a PE ratio of 28.43 and a beta of 1.27. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a fifty day moving average of $17.75 and a two-hundred day moving average of $18.53.

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 the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The company had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $49.68 million. As a group, research analysts forecast that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. purchased a new stake in Alexander & Baldwin during the 4th quarter worth $7,722,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alexander & Baldwin by 386.5% during the third 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 valued at $9,240,000 after purchasing an additional 382,327 shares during the period. State Street Corp lifted its position in shares of Alexander & Baldwin by 9.4% during 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. JPMorgan Chase & Co. boosted its stake in shares of Alexander & Baldwin by 51.0% in the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock valued at $15,612,000 after purchasing an additional 297,044 shares during the period. Finally, Norges Bank acquired a new stake in Alexander & Baldwin during the 4th quarter valued at $5,236,000. 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.