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 published on Monday.

ALEX has been the topic of several other research reports. Alliance Global Partners initiated coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and set a $23.00 price target (up 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Up 0.6 %

Shares of NYSE:ALEX opened at $19.78 on Monday. The business’s 50 day moving average is $19.07 and its 200 day moving average is $18.35. Alexander & Baldwin has a 12-month low of $15.53 and a 12-month high of $20.30. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 31.90 and a beta of 1.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Alexander & Baldwin by 19.9% during the third 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. Louisiana State Employees Retirement System raised its position in shares of Alexander & Baldwin by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 600 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Alexander & Baldwin by 5.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after buying an additional 683 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $54,000 after buying an additional 727 shares during the period. Finally, Van ECK Associates Corp grew its stake in Alexander & Baldwin by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after buying an additional 733 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

About Alexander & Baldwin

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.