Alexander & Baldwin (NYSE:ALEX) Cut to Hold at StockNews.com

Alexander & Baldwin (NYSE:ALEX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other research analysts have also commented on the company. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Piper Sandler raised their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX opened at $17.63 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $17.75 and its two-hundred day moving average price is $18.53. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. The stock has a market capitalization of $1.28 billion, a P/E ratio of 28.43 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. The business had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. As a group, sell-side analysts forecast that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Institutional Trading of Alexander & Baldwin

Institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,239 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,034 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted 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 worth $66,000 after purchasing an additional 572 shares during the last quarter. KBC Group NV lifted 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 worth $74,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Alexander & Baldwin during the third quarter worth approximately $79,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

About Alexander & Baldwin

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.