Alexander & Baldwin (NYSE:ALEX) Downgraded by StockNews.com to "Hold"

Alexander & Baldwin (NYSE:ALEX - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

Several other analysts have also issued reports on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report 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 report on Friday.

Alexander & Baldwin Stock Down 1.0 %

Shares of NYSE:ALEX traded down $0.17 during midday trading on Friday, reaching $17.78. The company had a trading volume of 834,255 shares, compared to its average volume of 318,842. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30. The stock has a market cap of $1.29 billion, a PE ratio of 28.67 and a beta of 1.29. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The business's 50 day moving average price is $17.70 and its 200 day moving average price is $18.64.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Research analysts forecast that Alexander & Baldwin will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds have recently added to or reduced their stakes in ALEX. Public Employees Retirement System of Ohio bought a new position in shares of Alexander & Baldwin in the fourth quarter valued at about $1,857,000. PharVision Advisers LLC acquired a new position in Alexander & Baldwin in the 4th quarter valued at about $209,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alexander & Baldwin by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 499,565 shares of the financial services provider's stock valued at $8,862,000 after buying an additional 18,312 shares during the last quarter. Two Sigma Advisers LP bought a new position in Alexander & Baldwin in the 4th quarter valued at about $532,000. Finally, Two Sigma Investments LP lifted its position in Alexander & Baldwin by 5.8% during the fourth quarter. Two Sigma Investments LP now owns 61,761 shares of the financial services provider's stock worth $1,096,000 after acquiring an additional 3,375 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

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.