Alexander & Baldwin, Inc. (NYSE:ALEX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alexander & Baldwin, Inc. (NYSE:ALEX) has received an average rating of “Moderate Buy” from the four research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $21.67.

ALEX has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Alliance Global Partners started coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $19.66 on Friday. The firm has a market capitalization of $1.43 billion, a PE ratio of 31.65 and a beta of 1.26. The company’s 50-day moving average is $19.07 and its 200-day moving average is $18.31. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Institutional Investors Weigh In On Alexander & Baldwin

A number of large investors have recently bought and sold shares of ALEX. GAMMA Investing LLC raised its holdings in 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 last quarter. Rothschild Investment LLC bought a new position in Alexander & Baldwin in the 2nd quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $54,000 after buying an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in 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 last quarter. Finally, KBC Group NV raised its holdings in 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 last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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.