Piper Sandler Forecasts Strong Price Appreciation for Alexander & Baldwin (NYSE:ALEX) Stock

Alexander & Baldwin (NYSE:ALEX) had its price target upped by stock analysts at Piper Sandler from $23.00 to $24.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 32.93% from the company’s current price.

A number of other research firms also recently commented on ALEX. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

Alexander & Baldwin Price Performance

NYSE ALEX opened at $18.06 on Friday. The stock’s 50-day moving average price is $17.69 and its two-hundred day moving average price is $18.64. 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 company has a market cap of $1.31 billion, a PE ratio of 29.12 and a beta of 1.29. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. On average, analysts predict that Alexander & Baldwin will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Alexander & Baldwin

A number of large investors have recently added to or reduced their stakes in ALEX. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 572 shares during the period. Bank of Montreal Can increased its stake in shares of Alexander & Baldwin by 2.3% in the fourth quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider’s stock valued at $490,000 after buying an additional 615 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of 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 valued at $596,000 after buying an additional 648 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Alexander & Baldwin by 5.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 683 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 727 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

About Alexander & Baldwin

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.