StockNews.com Downgrades Alexander & Baldwin (NYSE:ALEX) 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 released on Friday.

A number of other equities research analysts have also recently commented on the company. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Piper Sandler reissued an "overweight" rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX traded down $0.18 during midday trading on Friday, reaching $17.54. The stock had a trading volume of 236,906 shares, compared to its average volume of 296,982. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.28 and a beta of 1.29. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The stock has a 50-day moving average of $18.52 and a 200-day moving average of $18.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock valued at $29,000 after buying an additional 759 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,034 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of 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 purchasing an additional 572 shares in the last quarter. Finally, KBC Group NV increased its position in Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock worth $74,000 after purchasing an additional 1,338 shares during 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.

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