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

Alexander & Baldwin (NYSE:ALEX - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other research analysts have also issued reports on ALEX. Piper Sandler increased their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Trading Down 0.0 %

ALEX stock traded down $0.01 on Friday, reaching $18.35. The company's stock had a trading volume of 628,785 shares, compared to its average volume of 328,046. The firm has a market cap of $1.33 billion, a PE ratio of 29.59 and a beta of 1.27. The business has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $18.59. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.30 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 firm had revenue of $62.45 million during the quarter, compared to analysts' expectations of $49.68 million. As a group, research analysts forecast that Alexander & Baldwin will post 1.35 EPS for the current year.

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Institutional Trading of Alexander & Baldwin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its holdings in Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider's stock worth $1,817,000 after acquiring an additional 35,916 shares in the last quarter. HighTower Advisors LLC bought a new position in Alexander & Baldwin in the 3rd quarter worth about $1,151,000. Victory Capital Management Inc. boosted its stake in Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider's stock worth $18,536,000 after purchasing an additional 29,006 shares in the last quarter. Geode Capital Management LLC grew its position in Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider's stock valued at $36,032,000 after purchasing an additional 23,441 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Alexander & Baldwin by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider's stock valued at $11,193,000 after purchasing an additional 140,207 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 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.