StockNews.com Upgrades Alexander & Baldwin (NYSE:ALEX) to Buy

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

ALEX has been the subject of a number of other research reports. Alliance Global Partners began coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a "buy" rating and a $22.00 target price for the company. Piper Sandler reiterated an "overweight" rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Alexander & Baldwin presently has a consensus rating of "Moderate Buy" and an average target price of $21.67.

Alexander & Baldwin Stock Up 1.0 %

NYSE:ALEX traded up $0.19 during trading hours on Friday, hitting $19.27. 92,401 shares of the company traded hands, compared to its average volume of 321,584. 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 firm's 50-day simple moving average is $19.09 and its 200-day simple moving average is $18.14. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. The company has a market cap of $1.40 billion, a PE ratio of 30.81 and a beta of 1.26.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALEX. Allspring Global Investments Holdings LLC purchased a new stake in Alexander & Baldwin in the first quarter worth about $41,000. BNP Paribas Financial Markets grew its position in shares of Alexander & Baldwin by 18.7% during the first quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider's stock worth $772,000 after purchasing an additional 7,383 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Alexander & Baldwin by 42.9% during the first quarter. Janney Montgomery Scott LLC now owns 14,552 shares of the financial services provider's stock worth $240,000 after purchasing an additional 4,366 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of Alexander & Baldwin by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider's stock worth $1,046,000 after purchasing an additional 822 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Alexander & Baldwin by 7.3% during the first quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider's stock valued at $241,000 after buying an additional 1,001 shares during the last quarter. Institutional investors own 91.29% of the company's stock.

About Alexander & Baldwin

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.