StockNews.com Upgrades Alexander & Baldwin (NYSE:ALEX) to Buy

Alexander & Baldwin (NYSE:ALEX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

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

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded up $0.09 during trading on Monday, reaching $19.45. The company had a trading volume of 498,982 shares, compared to its average volume of 321,893. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.36 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The stock’s fifty day moving average price is $19.08 and its 200 day moving average price is $18.29. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in Alexander & Baldwin by 7.3% during the first quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 1,001 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Alexander & Baldwin by 56.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,437 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 11,730 shares in the last quarter. Vanguard Group Inc. boosted its position in Alexander & Baldwin by 0.6% during the first quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock worth $193,115,000 after purchasing an additional 71,797 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Alexander & Baldwin by 7.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 88,033 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 5,908 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Alexander & Baldwin by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,739 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 2,613 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.