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 research report report published on Monday morning.

Several other brokerages also recently issued reports on ALEX. 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 began coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alexander & Baldwin presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Alexander & Baldwin Stock Performance

ALEX opened at $18.62 on Monday. The stock has a 50-day moving average of $19.13 and a 200-day moving average of $17.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. Alexander & Baldwin has a 52-week low of $15.53 and a 52-week high of $20.30. 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

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Alexander & Baldwin by 0.6% in the first quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider’s stock valued at $193,115,000 after acquiring an additional 71,797 shares during the period. Reinhart Partners LLC. grew its stake in shares of Alexander & Baldwin by 2.9% during the third quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock valued at $49,035,000 after purchasing an additional 72,240 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Alexander & Baldwin by 24.4% in the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares in the last quarter. Mesirow Institutional Investment Management Inc. raised its position in Alexander & Baldwin by 1.7% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 516,368 shares of the financial services provider’s stock worth $8,758,000 after purchasing an additional 8,554 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Alexander & Baldwin by 9.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 389,006 shares of the financial services provider’s stock worth $7,399,000 after buying an additional 34,007 shares in the last quarter. Institutional investors and hedge funds 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.