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

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

Other research analysts have also issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $19.30 on Friday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 31.13 and a beta of 1.26. 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 50 day moving average price of $19.09 and a 200-day moving average price of $18.18. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30.

Institutional Investors Weigh In On Alexander & Baldwin

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Alexander & Baldwin by 103.3% during the 3rd 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 in the last quarter. Rothschild Investment LLC bought a new position in Alexander & Baldwin during the 2nd quarter worth about $35,000. Allspring Global Investments Holdings LLC purchased a new position in Alexander & Baldwin during the 1st quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. increased its position in Alexander & Baldwin by 34.8% during 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 purchasing an additional 727 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 572 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

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.