Alexander & Baldwin (NYSE:ALEX) Cut to “Hold” at StockNews.com

Alexander & Baldwin (NYSE:ALEX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

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

Alexander & Baldwin Price Performance

ALEX opened at $17.45 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a 50 day moving average of $17.74 and a two-hundred day moving average of $18.55. The company has a market cap of $1.27 billion, a P/E ratio of 28.14 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $49.68 million. On average, analysts expect that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Institutional Trading of Alexander & Baldwin

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. raised its holdings in 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 in the last quarter. Bank of Montreal Can raised its holdings in 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 acquiring an additional 615 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in 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 acquiring an additional 648 shares in the last quarter. Oppenheimer Asset Management Inc. raised 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 in the last quarter. Finally, American Century Companies Inc. raised its holdings in Alexander & Baldwin by 3.4% in the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 797 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

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.