Alexander & Baldwin, Inc. (NYSE:ALEX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have received a consensus rating of “Moderate Buy” from the four brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.67.

ALEX has been the topic of a number of research reports. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Piper Sandler reissued an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. Finally, Alliance Global Partners initiated coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective for the company.

Hedge Funds Weigh In On Alexander & Baldwin

Several institutional investors have recently bought and sold shares of ALEX. Asset Management One Co. Ltd. grew its holdings in Alexander & Baldwin by 14.6% in the third quarter. Asset Management One Co. Ltd. now owns 194,942 shares of the financial services provider’s stock worth $3,743,000 after purchasing an additional 24,773 shares during the last quarter. Van ECK Associates Corp grew its holdings in Alexander & Baldwin by 12.3% in the third quarter. Van ECK Associates Corp now owns 12,510 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 1,374 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after purchasing an additional 111,392 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Alexander & Baldwin by 9.6% in the third quarter. Pinnacle Associates Ltd. now owns 389,006 shares of the financial services provider’s stock worth $7,399,000 after purchasing an additional 34,007 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 worth $54,000 after purchasing an additional 727 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Up 0.7 %

Shares of ALEX opened at $18.75 on Monday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 30.23 and a beta of 1.26. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.35. The business’s fifty day moving average is $19.13 and its 200-day moving average is $17.91.

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.