Alexander & Baldwin (NYSE:ALEX) Stock Rating Lowered 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 Thursday.

ALEX has been the subject of several other reports. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Alexander & Baldwin in a research report 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 on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $19.71 on Thursday. 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 cap of $1.43 billion, a P/E ratio of 31.78 and a beta of 1.26. The firm’s 50 day moving average price is $19.09 and its 200-day moving average price is $18.06. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30.

Hedge Funds Weigh In On Alexander & Baldwin

Several institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System boosted its holdings in Alexander & Baldwin by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 600 shares during the period. Oppenheimer Asset Management Inc. raised 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 purchasing an additional 683 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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. Van ECK Associates Corp grew its position in shares of Alexander & Baldwin by 7.0% during the second quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock worth $189,000 after buying an additional 733 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

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.