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

Alexander & Baldwin (NYSE:ALEX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Other equities analysts have also issued research reports about the company. Alliance Global Partners began coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Alexander & Baldwin presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $19.66 on Monday. The stock’s fifty day moving average is $19.07 and its two-hundred day moving average is $18.31. The firm has a market capitalization of $1.43 billion, a P/E ratio of 31.65 and a beta of 1.26. 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 has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Institutional Investors Weigh In On Alexander & Baldwin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Alexander & Baldwin by 103.3% in the 3rd 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 period. Rothschild Investment LLC purchased a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alexander & Baldwin by 34.8% in 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 buying an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after buying an additional 572 shares during the period. Finally, KBC Group NV raised its holdings in shares of Alexander & Baldwin by 53.6% in the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after buying an additional 1,338 shares during the period. Hedge funds and other 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.