Alexander & Baldwin (NYSE:ALEX) Rating Increased 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 released on Monday.

Several other research firms have also commented on ALEX. Alliance Global Partners started coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alexander & Baldwin presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Alexander & Baldwin Trading Down 2.1 %

NYSE:ALEX opened at $18.62 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a 52 week low of $15.53 and a 52 week high of $20.30. The business’s 50 day moving average is $19.13 and its two-hundred day moving average is $17.91. The company has a market cap of $1.35 billion, a PE ratio of 30.03 and a beta of 1.26.

Institutional Trading of Alexander & Baldwin

A number of institutional investors have recently made changes to their positions in ALEX. Louisiana State Employees Retirement System increased its position in shares of Alexander & Baldwin by 1.7% during the 2nd 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. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 buying an additional 727 shares in the last quarter. Van ECK Associates Corp lifted its stake in Alexander & Baldwin by 7.0% during the second 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. GAMMA Investing LLC lifted its stake in Alexander & Baldwin by 103.3% during the third 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. Finally, Texas Permanent School Fund Corp boosted its position in shares of Alexander & Baldwin by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 822 shares during the period. 91.29% of the stock is 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.