Alexander & Baldwin (NYSE:ALEX) Upgraded by StockNews.com to “Buy” Rating

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

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

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $19.45 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.41 billion, a P/E ratio of 31.36 and a beta of 1.26. The company has a 50-day moving average price of $19.08 and a 200 day moving average price of $18.29. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30.

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in shares of Alexander & Baldwin by 7.3% in the first quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 1,001 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Alexander & Baldwin by 56.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,437 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 11,730 shares during the period. Vanguard Group Inc. raised its stake in shares of Alexander & Baldwin by 0.6% in the first quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock valued at $193,115,000 after acquiring an additional 71,797 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Alexander & Baldwin by 7.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,033 shares of the financial services provider’s stock valued at $1,449,000 after purchasing an additional 5,908 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Alexander & Baldwin by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,739 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 2,613 shares in the last quarter. Hedge funds and other institutional investors 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.