Piper Sandler Issues Positive Forecast for Alexander & Baldwin (NYSE:ALEX) Stock Price

Alexander & Baldwin (NYSE:ALEX) had its target price raised by stock analysts at Piper Sandler from $23.00 to $24.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 33.44% from the company’s previous close.

ALEX has been the subject of a number of other research reports. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Alexander & Baldwin has an average rating of “Moderate Buy” and an average target price of $23.00.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.99 on Friday. The firm’s 50-day simple moving average is $17.68 and its two-hundred day simple moving average is $18.65. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The stock has a market cap of $1.31 billion, a PE ratio of 29.01 and a beta of 1.29. 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) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Analysts anticipate that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alexander & Baldwin

Several large investors have recently made changes to their positions in ALEX. Public Employees Retirement System of Ohio purchased a new position in shares of Alexander & Baldwin in the fourth quarter worth $1,857,000. PharVision Advisers LLC bought a new stake in shares of Alexander & Baldwin in the fourth quarter worth about $209,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alexander & Baldwin by 3.8% in the fourth 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 worth $8,862,000 after buying an additional 18,312 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Alexander & Baldwin during the 4th quarter valued at approximately $532,000. Finally, Two Sigma Investments LP increased its stake in Alexander & Baldwin by 5.8% in the 4th 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. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.