Alexander & Baldwin (NYSE:ALEX) Raised 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 note issued to investors on Friday.

ALEX has been the topic of several other research reports. Piper Sandler restated an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners started coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to 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

NYSE ALEX traded up $0.22 during trading hours on Friday, hitting $19.30. The company had a trading volume of 245,151 shares, compared to its average volume of 322,295. 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 has a market cap of $1.40 billion, a P/E ratio of 31.13 and a beta of 1.26. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The business has a fifty day simple moving average of $19.09 and a 200-day simple moving average of $18.17.

Institutional Trading of Alexander & Baldwin

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after buying an additional 23,441 shares in the last quarter. Barclays PLC raised its position in Alexander & Baldwin by 25.4% in the third quarter. Barclays PLC now owns 251,868 shares of the financial services provider’s stock worth $4,836,000 after acquiring an additional 51,027 shares in the last quarter. Jane Street Group LLC lifted its holdings in Alexander & Baldwin by 61.2% in the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after acquiring an additional 35,916 shares during the last quarter. State Street Corp lifted its holdings in Alexander & Baldwin by 9.4% in the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock valued at $82,033,000 after acquiring an additional 363,223 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Alexander & Baldwin during the 3rd quarter valued at about $79,000. 91.29% of the stock is owned by institutional investors and hedge funds.

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.