Alexander & Baldwin (NYSE:ALEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other equities research analysts also recently issued reports on the stock. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX opened at $19.30 on Friday. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 31.13 and a beta of 1.26. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $19.09 and a 200 day moving average of $18.18.

Hedge Funds Weigh In On Alexander & Baldwin

Several large investors have recently made changes to their positions in ALEX. GAMMA Investing LLC lifted its holdings in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares in the last quarter. Rothschild Investment LLC bought a new stake in Alexander & Baldwin in the 2nd quarter valued at $35,000. Allspring Global Investments Holdings LLC purchased a new stake in Alexander & Baldwin in the 1st quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 worth $54,000 after purchasing an additional 727 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Alexander & Baldwin by 19.9% during 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 purchasing an additional 572 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 (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.