Alexander & Baldwin (NYSE:ALEX) Upgraded to “Buy” at StockNews.com

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

ALEX has been the topic of several other reports. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners assumed coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Alexander & Baldwin presently has an average rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $19.22 on Friday. The firm has a market capitalization of $1.40 billion, a PE ratio of 31.00 and a beta of 1.26. Alexander & Baldwin has a 1 year low of $15.53 and a 1 year high of $20.30. 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’s fifty day simple moving average is $19.09 and its 200 day simple moving average is $18.19.

Hedge Funds Weigh In On Alexander & Baldwin

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake 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 in the last quarter. Rothschild Investment LLC bought a new position in Alexander & Baldwin during the second quarter worth about $35,000. Allspring Global Investments Holdings LLC bought a new position in Alexander & Baldwin during the first quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alexander & Baldwin by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 727 shares in the last quarter. Finally, 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 worth $66,000 after buying an additional 572 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.